GFH Financial Group has completed a $200 million acquisition of a portfolio of medical offices in the United States of America.
According to Arab Net, the portfolio of medical offices is distributed in seven US states: North Carolina, South Carolina, Georgia, Utah, Wisconsin, Ohio, and Texas, and consists of: 11 originals, with a total area of more than 400,000 square feet.
This Shariah-compliant transaction brings the value of the group's US healthcare portfolio to more than $400 million.
Medical offices include chartered outpatient clinics for medical services with facilities including laboratories and various ancillary medical services. These clinics are often located near large hospitals and residential complexes and include various medical specialties such as dermatology, pediatrics and other specialties that do not require hospitalization, according to the Emirati newspaper Al Khaleej.
The portfolio includes leased assets to some of the largest organizations in the US healthcare sector, including Cleveland Clinic, Texas A&M Health Sciences Center, Novant Health, and Spartanburg Regional Healthcare, Texas Health Resources, and Baylor Scott & White Health.
The assets span a range of specialty care sectors and are located on or near hospital campuses with a strong client base in the Southeast, Midwest and Southwest regions of the United States.
The portfolio enjoys medium to long-term leases, with average leases averaging around 10 years and the average leases for any of the individual tenants being less than 4 years, which Allows the portfolio to benefit from long-term stability as well as potentially higher returns.
