Dubai-Mubasher: GFH Capital Limited, a subsidiary of GFH Financial Group, has signed an agreement to purchase a real estate portfolio in the US for $65 million, according to a bourse statement issued on Sunday.
The portfolio is projected to generate a regular cash flow stream from long leases and strong tenant base in the properties.
“This new acquisition will provide an average annual cash yield in excess of 8.5% and an IRR of 10% for GFH and its clients,” the statement added.
GFH expected the deal to reflect positively on its financial results in the second quarter of 2016.
It is noteworthy that GFH is listed on BHB, KSE, and DFM.
