GFH Financial Group would like to inform its shareholders and the markets that its Dubai-based subsidiary GFH Capital Limited (GCL) has signed an agreement to acquire a portfolio of industrial real estate located in the United States for an approximate value of $65 million. The portfolio comprises of several distribution, warehousing and industrial properties spread across various states in the Midwest region of the United States. The portfolio is expected to provide a regular cash flow stream resulting from long leases and strong tenant base in the properties. Further, the portfolio is well diversified in terms of tenant base, location and individual properties strengthening the portfolio's performance. This new acquisition is considered the third project following the acquisition of a portfolio of industrial real estate comprised of approximately 30 buildings located in 7 States and the acquisition of three multifamily properties in Texas and Georgia, which GFH closed successfully over the last 18 months. It is anticipated that this new acquisition will provide an average annual cash yield in excess of 8.5% and an IRR of 10% for GFH and its clients. GFH expects the deal to reflect positively on its financial results in Q2-2016. GFH Financial Group B.S.C announced consolidated earnings results for the first quarter of 2016. For the quarter, the company reported net profit attributable to shareholders of $6.1 million for the first quarter of 2016, representing a 176% increase from the $2.2 million net profit reported in first quarter of 2015. The Group reported a consolidated profit of $10 million for the first quarter of 2016, an increase of 66%. — SG
