GFH Financial Group has expanded its multifamily residential portfolio in the U. S. USA After obtaining a third asset, a luxury skyscraper in Baltimore, Maryland, worth an estimated $90 million. Acquisition diversifies GFH’s U. S. assets. U. S. tenants.
GFH acquired the 17-story assets in Baltimore as a component of a Shariah-compliant joint venture with Broadshore Capital Partners. Broadshore is majority owned through Guardian Life, a New York-based Fortune 500 company with more than $71 billion in asset management.
The newly renovated skyscraper is located in downtown Baltimore. Building amenities include a fitness center and rooftop pool offering loft-style apartments with personal balconies.
“The U. S. multifamily residential real estate sector is a U. S. USA It is a significant opportunity for GFH and our investors. The segment has shown transparent resilience to the pandemic compared to the highest of other genuine real estate market segments that have experienced a decline. Investment in the multifamily area has remained COVID resilient due to the defensive nature of the sector,” said Razi Al Murbati, CEO of GFH Capital SA.
More than $140 billion in capital has been invested in the 2020 multifamily sector. USA It experienced a tipping point in March 2021, with multifamily rents increasing 0. 6% year-over-year. GFH’s real estate strategy aims to capitalize on the trend.
Al Murbati said: “Our goal is to get a varied set of residential housing in the US. USA They will vary in location, length and local demographics to generate a solid cash flow. Our ambitious but calculated genuine real estate strategy prioritizes resilience and focuses on expansion and creation for stakeholders. Our overall assets and budget under control now exceed $13 billion.
GFH’s goals for U. S. multifamily residential housingUSA They are based on several key factors: assets are located in spaces with strong medical centers and educational establishments for strong population growth. , genuine property amenities and outdoor spaces are suitable priorities for tenants, which has been further accelerated due to COVID.
The assets are located in the Sun Belt states, which encompass the southern and southwestern parts of the United States. The United States has witnessed an immigration shift to those states for several years. Almost part of the country’s population expansion between 2010 and 2016 occurred in the 22 metropolitan spaces of the Sun Belt regions.
Dear reader,
This segment is about life in the UAE and facts you can’t live without.
Sign up to read and complete Gulfnews. com