In February 2021, we acquired a mission-critical distribution facility in Chicago, Illinois, which has been leased since November 2015 to blue chip tenant, Michelin North America, the international, top selling tire brand and global tire industry innovator.

The facility is one of only two bulk logistics centres used by Michelin in the US, handling 35% of the company’s imported inventory and therefore sitting at the heart of its US operations. The facility is uniquely positioned within the United States’ geographic centre with easy access to vital transport links, offering its tenants unparalleled access to customers across major US states and commercial centres.

The transaction, valued at over c.US$135 million, marks the continued expansion of GFH’s global portfolio of income generating real estate assets including prime distribution centres; well positioned logistics assets and last mile delivery facilities in the US and Europe. The transaction was undertaken in partnership with Silver Creek Commercial Development LLC, a US based asset manager with a track record of over $2 billion in logistics transactions.

The investment offers our investors exposure to opportunities resulting from the ongoing growth of the global logistics sector and positive US trends that include the growing prevalence of e-commerce.