Bahrain-based asset manager GFH Financial Group has acquired a portfolio of warehouses leased to Amazon valued at US$2 billion.
The portfolio comprises 14 logistics assets located across 11 US states, all of which are leased on a long-term basis to the e-commerce giant.
Demand for warehouse space is currently at an all-time high, having risen by 135% since last year, and currently outstrips new supply by 41 million sq ft.
Alongside the pandemic-induced boom in e-commerce, demand has also risen as a result of increased volumes in ports and the push from e-commerce firms to shorten delivery times.
GFH’s investment was made alongside Preylock Holdings, a US-based consortium of institutional investors.
“We look forward to working with our industry partners in this transaction to maximize the value of the portfolio and continue to look for other opportunities to build our presence in the logistics segment of the real estate market both in the US and Europe,” said Nael Mustafa, co-chief investment officer, real estate at GFH.
The logistics market has been a source of investment over the last year for GFH. Recent purchases include facilities leased to Amazon in Spain and FedEx and Michelin in the US.
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