GFH acquires two office properties in Chicago for $150 million

Dubai:

Gulf Finance House said on Tuesday has acquired a new investment opportunity in the US comprising of two suburban office properties in Chicago for $150 million (Dh551 million).

The  investment  has  been  undertaken  in  partnership  with  Crestlight  Capital  and  Lincoln  Property, who in addition to acting as the asset and property managers, have co‐invested alongside GFH.  GFH’s contribution in the deal is 93 per cent, the company said in a statement posted on Dubai Financial Market’s website.

The transaction is expected to have a positive impact on GFH’s profit and loss during 2018 with a cash yield exceeding 9 per cent per annum, the statement added.