MANAMA: Bahrain-based financial investment group GFH has kickstarted its US operations by acquiring a majority stake in Atlanta-based SQ Asset Management.
A property manager focused on student housing, SQ has more than $1.4 billion in aggregate transaction value with 32 housing properties totaling 10,300 beds currently under management across the US.
Through this acquisition, the Gulf firm will add 180 property professionals to its employee base, thus “bringing significant investment and asset management experience in US real estate,” the company said in a statement.
“We’re excited to announce this acquisition, which launches GFH’s operations in the US and provides us with direct access to the attractive living space and provides the group with local and well-positioned access in the US to help execute our real estate strategy,” said Hisham Alrayes, CEO of GFH.
The financial details of the agreement are yet to be disclosed.
Alrayes added, “We are looking forward to working with SQ on this exciting journey and enabling the platform to expand into other sectors and geographies. SQ has a successful track record of acquiring, owning, operating and disposing of investments and has managed to deliver attractive returns to its investor base.”
