Bahrain-based asset manager GFH Financial Group has bolstered its US property portfolio with the purchase of a number of medical offices.
The asset manager paid $200 million for 11 assets spread across seven states that are currently leased to a number of US healthcare providers.
The purchase just weeks after GFH acquired a portfolio of warehouses in the US valued at $2 billion.
The latest acquisition brings the value of the firm’s US healthcare holdings to more than $400 million.
The Co-Chief Investment Officer – Real Estate at GFH, Nael Mustafa, said: “The pandemic has underlined a need for more outpatient services and continued demand for healthcare services,” said Nael Mustafa, co-chief investment officer. “As a result, we are seeing strong investor sentiment in the medical office sector.
“This trend is particularly true in the US, where healthcare spending comprises around 18% of GDP, compared to around 10% for most other developed countries,” added Mustafa.
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