Bahrain-based GFH Financial Group has exited its investments in two student housing assets in the United States.
The company’s wholly-owned subsidiary GFH Partners has just sold a property it acquired in September 2021, according to a Dubai Financial Market (DFM) disclosure on Thursday.
The company said the transaction provided fund investors with a return of 122% over a two-year investment period.
These properties represent GFH’s first diversified U.S. student housing portfolio, consisting of more than 1,200 beds across two properties near the University of Arkansas and Florida State University.
During the two-year investment period, the property recorded 100% occupancy and 40% net operating income (NOI) growth.
“We were able to add significant value to these investments over a short holding period, exceeding our goals and effectively positioning our portfolio for a timely sale,” said GFH Partners CEO. Nael Mustafa said.
Mr. Mustafa said that in addition to the US student housing sector, other key areas that the group is currently focusing on include the US clinic sector, regional education and healthcare opportunities, and the global and Gulf logistics industry. He pointed out that this includes investments in
GFH did not disclose the amount of the transaction.
In July 2021, the company announced that it had entered into an agreement to acquire a $100 million portfolio of student housing assets adjacent to top universities in the United States.
(Writing: Cleofe Maceda; Editing: Sevan Scalia)
Seban.scaria@lseg.com