GFH Financial group recently announced that they have purchased a cluster of medical offices in the US for $200 mn, as a part of the company’s plan to build a portfolio of stabilised assets, according to media reports. The deal also increases the company’s healthcare portfolio and it is currently valued at $400 million.
Currently, the company has 11 assets and is present in North Carolina, South Carolina, Georgia, Utah, Wisconsin, Ohio, and Texas. Some of these assets are leased to US-based entities like Cleveland Clinic, Texas A&M Health Science Center, Novant Health, Spartanbrug Regional Healthcare System, and Texas Health Resources. The latest deal is Shariah-compliant and expected to increase the overall value of GFH Financial.
The assets also cover a range of specialist care sectors and are positioned on hospital campuses or near hospitals with customer bases across the Southeast, Midwest and Southwest.
Nael Mustafa, co-chief investment officer told the media, “The pandemic has underlined a need for more outpatient services and continued demand for healthcare services. As a result, we are seeing strong investor sentiment in the medical office sector. This trend is particularly true in the US, where healthcare spending comprises around 18% of GDP, compared to around 10% for most other developed countries.”
In the same time, investments in medical offices have increased four times over the last decade and medical office closings accounted for nearly 30 percent of all US office sales for the year ending in March 2021.