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Almost Half of H1:2016 Private Equity Fundraising Exclusively Dedicated to Real Estate

In their African Private Equity Data Tracker, the African Private Equity and Venture Capital Association revealed that in H1:2016, 83 PE deals with a total value of USD$0.9bn were reported, while another USD$1.1bn was the total value of African PE fundraising in the same period. Of this US$1.1bn, 46% of the total raised is exclusively dedicated to real estate opportunities in […]

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Sanlam Africa Core Real Estate Investments Reports Lower Profit for June 2016

For the 6 months ended June 2016, Sanlam Africa Core Real Estate Investments Ltd reported a profit before tax of $1.1 million, lower than the $1.5 million for the same period a year ago. The fund explained that the regions where they are holding assets continue to suffer an economic slowdown.  The sustained slump in commodity […]

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Mara Delta to expand into Mauritian Hospitality Sector

In late August, Mara Delta (formerly Delta Africa) advised it’s shareholders that it has entered into negotiations with Néréide Limited, a wholly-owned subsidiary of Lux Island Resorts Limited, to acquire the Tamassa Resort, located in Bel Ombre on the south western coast of Mauritius for a purchase consideration of the Euro equivalent of $40 million […]

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New Sale Reports Published

New sale reports have been published showing transactional details on the acquisition of hotel properties in Sub Saharan Africa. The acquisitions covered include: Federal Palace Hotel, Victoria Island, Lagos – Nigeria (2010) Intercontinental Hotel, Lusaka – Zambia (2016) View the sale reports.

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Redefine Will Dispose of Pivotal’s African Assets including The Wings Towers in Lagos

Redefine Properties Ltd recently agreed to acquire The Pivotal Fund for R6.1bn ($425m), however the fund, which is also South Africa’s second-largest REIT, is planning to dispose of Pivotal’s African assets in countries like Nigeria where they own 37.1% of an office development called The Wings. In a statement released by Redefine Properties, they explained that: Pivotal’s African assets […]

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Redefine Properties agrees to acquire JSE listed The Pivotal Fund

Redefine Properties Ltd., South Africa’s second-largest real estate investment trust, announced its intention to acquire the entire issued share capital of Johannesburg Stock Exchange listed Pivotal Fund in a deal valued at R6.1 billion ($425 million). Pivotal is a development focused investment fund with a Grade A portfolio of completed income producing properties and developments. Under the terms of the […]

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S.A. Retailer Steinhoff Agrees to Acquire Mattress Firm for $2.4 billion

South African-based international retail holding company, Steinhoff, has agreed to acquire Mattress Firm at a total equity value of approximately $2.4 billion and an enterprise value of ±$3.8 billion including net debt. This follows the notable trend among South African retailers who have attempted to acquire established retailers in developed markets such as Europe and the […]

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Radisson Blu Hotel & Convention Center Opens in Kigali, Rwanda

Radisson Blu, the global hotel brand owned by the Carlson Rezidor Group, has announced the opening of the Radisson Blu Hotel & Convention Center in Kigali, Rwanda. The new hotel will comprise the five-star Radisson Blu hotel with 292 rooms and conference facilities that can host more than 5,000 people through a 2,900 man auditorium and 18 other meeting […]

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Novare Africa Property Fund II closes with $350 million for investment

Novare Africa Property Fund II, has announced its final close at the end of June 2016 after raising $350 million (R5.25 billion) for investment in a portfolio of new developments in Nigeria, Zambia and Mozambique in among others. The fund will be listed on the Mauritius Stock Exchange at the end of July 2016 and it […]

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Carlson Rezidor Adopts Aggressive Growth Strategy in Africa

Carlson Rezidor, one of the world’s largest hotel companies, has announced the signing of its first Quorvus Collection in Africa, which will be a  5-star, 244-room luxury Emerald Grand Hotel & Spa in Lagos, Nigeria. The group also signed a new Radisson Blu Hotel Harare in Zimbabwe (245 rooms), a Radisson Blu Hotel in Durban […]

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