GFH Partners exits 10-property IOS portfolio for $113 million

GFH Partners sold a 10-property U.S. industrial outdoor storage portfolio for $113 million. The sale closed Oct. 22 and was the firm's fifth logistics exit in six years.

Eight of the 10 properties are in the Chicago submarket, with one in Lenexa, Kan., and one in Wilmer, Texas, south of Dallas on the Interstate 45 corridor. GFH Partners, the global real assets arm of GFH Bank, assembled them around sites serving fleet parking, equipment storage and logistics staging in infill and transport-corridor locations where zoning and scarce developable land limit supply, IREI reported. The parent, GFH Bank, is separately building a $1 billion aircraft-engine leasing platform with AIP Capital and Bridgepoint, as Private Wealth Daily previously reported.

For allocators, the sale sets an average price of $11.3 million per property across 10 infill sites, a realized mark in a niche whose supply case rests on scarce, zoned land. GFH Partners achieved double-digit rental growth on lease renewals, high occupancy and higher net operating income across the nine Chicago and Kansas properties, according to IREI. In Wilmer, a vacant site became a stabilized, income-generating property through a long-term lease with an investment-grade tenant.