GFH Partners Sells 10-Property IOS Portfolio for $113M

GFH Partners has sold a portfolio of 10 U.S. industrial outdoor storage properties for $113 million, completing its fifth logistics exit in six years.

The Dubai-based investment manager, the global real assets investment arm of GFH Bank, managed the vehicle that owned the properties. The sale closed Oct. 22.

The portfolio comprised eight properties in the Chicago area, one in Lenexa, Kansas, and one in Wilmer, Texas.

Across the Chicago and Kansas assets, GFH said lease renewals produced double-digit rental growth, occupancy remained high and net operating income increased during the holding period.

At Wilmer, the manager secured a long-term lease with an investment-grade tenant, converting a vacant outdoor storage site into an income-generating property.

“We continue to see compelling value in logistics and industrial outdoor storage, and, through the funds we manage, we intend to continue deploying capital where our sector expertise and asset management capabilities can generate long-term value for our investors,” said Nael Mustafa, CEO of GFH Partners.

Since 2024, GFH has managed a series of dedicated outdoor storage funds and plans to remain active in the sector.

The transaction follows another October disposal. GFH sold a 2-million-square-foot distribution facility and adjacent land in Wilmington, Illinois, to longtime tenant Michelin North America for $151 million. That sale closed Oct. 6 and marked its fourth U.S. industrial and logistics exit.

Pictured: An IOS facility leased to a logistics, warehousing and freight handling company in Wilmington, Illinois.