Friday, September 18, 2020

GFH COMPLETES $43.45 MILLION EXIT OF US ATLANTA PROPERTY

GFH Capital, the subsidiary of GFH Financial Group (“GFH”), today announced that it has successfully completed the sale of one of the properties in its Diversified US Residential Portfolio (“DURP” or “portfolio”) in Atlanta with a sale value of exceeding USD 43 million dollars. The portfolio has been acquired 3 years back.

The Atlanta based asset, 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 close proximity to a range of community, shopping and entertainment facilities.

Commenting on the sale, Mr. Luay Ahmadi, Senior Executive Officer of GFH Capital, said, “We are proud to announce this successful exit for the Group and for our investors. GFH have kept a close eye on the market since our acquisition in 2014 in order to ensure capitalizing on the most opportune time to exit. Over last 3 years, GFH has proven its ability to effectively source unique transactions and exit transactions, delivering promised returns to our investors. 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”.

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