GFH Partners Ltd. (GFH Partners), a Dubai-based investment manager and global real assets investment arm of GFH Bank B.S.C, announced the sale of a portfolio of 10 industrial outdoor storage (IOS) assets in the United States at $113 million, marking its fifth exit in the logistics sector in the past years. GFH Partners acts as investment manager of the vehicle that owned the portfolio.
GFH Partners assembled 10 properties across the Central U.S., including eight in the Chicago submarket, one in Lenexa, Kansas, and one in Wilmer, Texas, selected for their locations, tenant demand and potential for income growth.
The portfolio was built around a clear thesis: industrial outdoor storage serves fleet parking, equipment storage and logistics staging, where structural demand meets limited supply in infill and transportation-corridor locations constrained by zoning and scarce developable land. GFH Partners then achieved double-digit rental growth on lease renewals, maintained high occupancy and increased net operating income over the holding period.
The sale, which closed on 22 October 2026, was delivered against a difficult backdrop for commercial real estate, characterized by elevated financing costs, constrained debt availability, lower transaction volumes and continued divergence between buyer and seller pricing expectations.
“This exit, our fifth in the logistics sector in six years, reflects what we do best: identifying the right investment strategy, selecting the right assets and delivering the exit,” said Nael Mustafa, chief executive officer of GFH Partners. “Achieving this outcome in a market defined by higher financing costs and subdued transaction volumes is a testament to the discipline of our approach. 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.”
Since 2024, GFH Partners has acted as investment manager to a series of dedicated IOS funds and said that it intends to remain active across logistics and IOS, reflecting its confidence in the sector’s long-term fundamentals.
An industrial outdoor storage facility leased to a roofing materials company in Joliet, Illinois
