Bahrain-based leading financial group, GFH Financial Group has expanded its exposure to the medical clinics sector through a second US Medical Clinics Portfolio in a transaction valued at $400 million.
The income-yielding portfolio is comprised of 11 geographically diversified assets spread across four US states including California, Texas, Maryland and Louisiana.
Covering an area exceeding 1 million square feet, the Portfolio is anchored by investment-grade credit tenancy through Baylor Scott & White (Moody’s Aa3), Texas A&M Health Science Center (Fitch AAA), Texas Tech University (Fitch AA+), Memorial Hermann (S&P A+) and Tidal Health (Moody’s Aa3). The assets also offer unique specializations within their respective submarkets, positioning them for high occupancy and rent growth.
Nael Mustafa Co-Chief Investment Officer GFH
“We are pleased to announce the acquisition of this prime, income-yielding medical clinic portfolio as part of GFH’s ongoing expansion in the medical office building sector in fast-growing cities across the US. We believe strongly in the long-term fundamentals in the healthcare sector and the dynamics that are supporting an increase in demand for high-quality medical office space. This includes aging populations and growth in out-patient care which continues to make the sector highly recession-resilient and unimpacted by economic cycles. We look forward to working with our partner Big Sky Medical to maximize the value of these assets.”
GFH aligns interests with Big Sky Medical, a highly reputed and experienced asset management platform, as both share the same focus of investing in and aggregating assets in the high-demand and downturn-resistant medical sector. GFH’s partnership with Big Sky has already resulted in a number of acquisitions totaling approximately $500 million in the past six months alone. This transaction is the third in a series of joint acquisitions.
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