GFH Makes Foresighted Investments

by BTM

Mon, 10 January 2022

GFH Makes Foresighted Investments

GFH Financial Group has acquired a portfolio of medical offices in the US worth around USD200 million as part of its strategy to build a portfolio of stabilised assets driven by solid long term fundamentals and operating growth. 

Spread across seven states – North Carolina, South Carolina, Georgia, Utah, Wisconsin, Ohio and Texas –the medical offices portfolio consists of 11 assets and 400,000 sq.ft. of space. The Sharia-compliant deal brings the value of the GFH’s group’s US healthcare portfolio to over USD400 million.

“The pandemic has underlined a need for more outpatient services and continued demand for healthcare services. As a result we are seeing strong investor sentiment in the medical offices sector. This trend is particularly true in the US, where healthcare spending comprises around 18 percent of GDP, compared to around 10 percent for most other developed countries,” said Co-Chief Investment Officer – Real Estate at GFH, Nael Mustafa. 

The portfolio comprises assets that are leased to some of the largest names in US healthcare, including Cleveland Clinic, Texas A&M Health Science Center, Novant Health, Spartanbrug Regional Healthcare System, Texas Health Resources and Baylor Scott & White Health. The assets cover a range of specialist care sectors and are positioned on hospital campuses or near hospitals with a solid customer base across the Southeast, Midwest and Southwest.