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GFH completes $43.45m exit of US Atlanta property

Set to exit another US residential portfolio before year end

Gulf News

Dubai:

GFH Capital, the subsidiary of GFH Financial Group, said on Tuesday it has successfully completed the sale of one of the properties in Atlanta with a sale value of exceeding $43 million.

The portfolio has been acquired three years back, the company said in a statement.

The Atlanta based asset, which is a Class A property, is comprised of 19 three-story luxury residential buildings with 306 units. The sale was completed through an open market bidding process with the portfolio attracting strong investor interest and demand.

Supporting the strong sale price is the asset’s strategic location just three miles west of the Atlanta-Hartsfield International Airport and its proximity to a range of community, shopping and entertainment facilities, the company said.

“We saw strong prospects for the US real estate sector across multi asset classes and continue to have a robust pipeline. GFH remains focused on identifying similar new opportunities in the market and increase the size of the assets under management,” Luay Ahmadi, Senior Executive Officer of GFH Capital, said.

GFH Capital provides capital and strategic support for growth companies. GFH Capital has undertaken and structured investments of more than $3 billion in over 40 companies and across 25 countries.

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