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STANLIB Kenya to sell management rights of Stanlib Fahari I-REIT to ICEA Lion

STANLIB Kenya Limited (SKL) plans to dispose of its investment management mandates, rights, and obligations for STANLIB Fahari I-REIT to ICEA Lion Asset Management Limited (ILAM). However, ILAM will not assume any debts or liabilities of SKL in connection with or related to its REIT.  As stated in the announcement: “The assets being acquired by […]

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Everty acquires Cornerstone Tower from African Capital Alliance

Earlier today, African Capital Alliance (ACA) announced the sale of Cornerstone Tower, a 12,000m2 building in Oniru, Lagos, to a company called Everty. The property was developed by the Capital Alliance Property Investment Company, ACA’s pioneer Real Estate Fund in a joint venture partnership with Cornerstone Insurance Plc. and Fin Insurance. With this exit, the […]

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‘Africa Re-Inspired’ – Notes from the 2019 African Property Investment Summit in Jo’burg

The 10th edition of the African Property Investment Summit was held in Johannesburg earlier this month. It brought together over 500 of Africa’s top dealmakers and service providers, who have driven and supported transactions on the continent over the past decade. The theme of the event, ‘Africa Re-Inspired’, sought to document the progress of the […]

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Shopping Centers Affected in Nigeria by Xenophobic Related Attacks

Updated: Thursday, September 5th 2019. Maryland Mall was not closed, the activity column has been updated. Status of Palms Ibadan and Palms Ilorin has been reviewed to unconfirmed. As a response to Xenophobic attacks on Nigerians in South Africa, disgruntled Nigerians took to the streets to protest against, loot and vandalise retail businesses, some of […]

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Santa Clara Medical: AXA Mansard, IFC and ACA’s Hospital Project Halted

AXA Mansard’s plans to sponsor the development of a 150-bed acute care hospital have been placed on hold according to information provided in their 2018 financials, citing unforeseen circumstances as the reason for the halt in plans. Santa Clara Medical Limited, the Special Purpose Vehicle (SPV) created to fund the project was promoted by AXA […]

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Actis returns to market with $1.23 billion Infrastructure Fund

Actis has announced that it completed fundraising for the flagship Actis Long Life Infrastructure Fund (ALLIF). The ALLIF fund was raised by the in-house team at Actis and represents over $1.23 billion of fund commitments. Along with co-investment, it delivers up to approximately $2 billion of investable capital for this new strategy. The fund is […]

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2 Down, 4 To Go. Hyprop Continues Disposal of sub-Saharan Retail Property Portfolio

One month after the disposal of Achimota Mall in Accra, Hyprop is following through with their decision to reduce their sub-Saharan Africa exposure with the announcement of the sale Manda Hill in Zambia. The 42,000sqm mall, which is jointly owned by Hyprop Investments (Mauritius) Limited and by AttAfrica Limited, was sold at the December 2018 […]

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Development: Admiralty Mall, Admiralty Road, Lekki Phase 1, Lagos

Name: Admiralty Mall; Developer:  Dreamspaces Development; Use: Retail; Location: Admiralty Road – Lekki Phase 1; Main Contractor: Dutum Company Limited; Architects: Beyond Arete; Project Manager: Studio Stoone; Structural Engineers: Pinconsult Associates Limited; MEP Consultants: Alliance Engineering Consultants;  Land Area: Approximately 1,200sqm; GLA: 1,323sqm; Expected Completion: Q1:2020. Admiralty Mall is a 33-unit retail development located in […]

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Private Equity Firm, Investec Asset Management acquires Egyptian Supermarket Chain, Spinneys

South African private equity firm, Investec Asset Management on Monday, July 15th, acquired Egyptian supermarket chain Spinneys, a fast rowing supermarket chain in Egypt from defunct private equity firm, Abraaj Group whose management rights has also been undertaken by private equity, Actis. Spinneys Egypt is one of the leading grocery retail players in Egypt, having […]

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Growthpoint Investec African Properties debuts acquisition in Africa

Having commenced operations last year with capital commitments in excess of $212 million from several large institutional investors such as the IFC, Growthpoint Investec African Properties (GIAP) has successfully concluded the acquisition of 97.5% of Achimota Retail Centre. Achimota Retail Centre located in Accra, Ghana is a single level mall which includes 15,000m² of retail […]

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