The total area of the portfolio exceeds 11 million square feet, reflecting GFH’s continued expansion of its portfolio of logistics assets in the United States. GFH’s motivation to invest in these assets is based on the long-term drivers of the continued growth of e-commerce, the emergence of supply chain logistics and the inability of supply to meet current and future demand in terms of building logistics facilities. The rate of demand for storage space doubled to exceed the new supply size by 41 million square feet in the third quarter of 2021, while e-commerce continues to grow after the pandemic period.
On the other hand, the impact of the increasing quantities in ports across the United States as a result of the high rate of demand for all goods after the pandemic, the expansion of the Panama Canal in freight volumes to the eastern ports of the United States and the trend towards reducing delivery times to meet pressure from major e-commerce companies also contribute to an increase The demand for storage space is significantly more than 135% compared to the same period last year.
The assets are designed and built to meet Amazon’s requirements and are strategically located near major ports and critical infrastructure, reducing inland road transportation costs and providing significant access to the majority of the US market.
The investment was made by GFH in partnership with Prilock Holdings, along with a group of well-known institutional investors. Prilock Holdings is located in Los Angeles and is a real estate owner, operator and developer with total assets under management of over $4 billion across 13 million square feet of office and industrial investments. Bret Lippmann, Prilock CEO, commented, “Prilock values its strategic relationship with a well-known partner at GFH and we look forward to continuing the implementation of the logistics portfolio strategy. The strength of this asset class is unmatched in the US real estate sector and the Prelock portfolio is well positioned to achieve the value.”
On his part, Mr. Nael Mostafa, Co-Head of Investments – Real Estate at GFH, said, “We are pleased to announce another major investment in the US logistics asset sector, which continues to grow strongly and is expected to continue its positive momentum in the near term as the economy witnesses. It is worth noting that the 14 assets are strategically located, purpose-built, and modern, allowing Amazon to effectively handle the flow of goods and deliver them to its massive and ever-expanding customer base. Across the U.S. The investment is supported by continued growth in e-commerce, with Amazon being the undisputed leader, as well as high demand for high-quality industrial and logistical space required for warehousing and distribution.We look forward to working with our partners on this The investment sector to enhance the value of this portfolio in addition to continuing to search for other opportunities to consolidate our presence in the logistics assets sector of the real estate market in each of the states for the United States and Europe.
Over the past 12 months, GFH has built a portfolio currently valued at more than $1 billion in the US and European logistics sectors, including the purchase of purpose-built facilities to be occupied by large market tenants such as Amazon in Spain. FedEx and Michelin in the United States.
About ” . group GFH Financial“:
GFH is one of the most important financial groups in the Gulf region, which includes: asset management, wealth management, commercial banking and real estate development. The group’s operations are concentrated in the GCC, North Africa and India. GFH is listed on the Bahrain Stock Exchange, the Kuwait Stock Exchange and the Dubai Financial Market.
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