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Growthpoint, South Africa’s largest REIT, launches new trading and development division

Growthpoint Properties has announced the creation of a dedicated trading and development business unit which will play a key role in creating business opportunities for the company and world-class premises for its clients. Speaking on the new business unit, Rudolf Pienaar, Growthpoint’s new Chief Investment and Development Officer, who will head the team, explained that […]

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STANLIB Fahari I-REIT appoints new Acting CEO

STANLIB Kenya Limited (STANLIB) has announced the appointment of Ms. Nozipho Makhoba as the Acting Chief Executive Officer of the STANLIB Fahari I-REIT (Fahari-I-REIT) effective 1st July 2018. Nozipho replaces Mr. Kenneth Masika whose contract came to an end on 30th June 2018. The STANLIB Fahari I-REIT was Kenya’s first REIT when it was launched it […]

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Listed Real Estate Update: UHOMES REIT Performance Indicators, Ikeja Hotels Suspension Lifted and Infinity Mortgage Bank Results

Infinity Mortgage Bank has published an extract of their unaudited and interim financial statements for Six Months Ended 30 June, 2018. During the period, the company made N141,006,556, 41% higher than the N100,172,209 made in the same period last year. See more here. Union Homes REIT published performance indicators for their real estate portfolio at the end […]

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Àrgentil takes 20% stake in affordable housing developer specialising in the use of shipping containers.

Àrgentil Capital Partners, a Nigerian financial advisory firm specialising in corporate, project and infrastructure finance, announced in a statement issued on 1 st  of June, that it was taking a 20% stake in Tempohousing Nigeria Ltd (THN). THN is a project developer specialising in the design and manufacture of real estate structures using standard ISO shipping containers. […]

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Growthpoint and Investec Launch Operations in Pan-African Real Estate Business with over $212m Committed

Almost 3 years after the joint venture agreement was initially announced, Growthpoint Properties and Investec Asset Management, in partnership with the International Finance Corporation (IFC), have the commenced operations of Growthpoint Investec African Properties (GIAP). The pan-African real estate investment business, which will be managed by Growthpoint Investec African Property Management has already secured capital commitments in […]

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Vantage Capital provides $8m funding to neighbourhood mall in Nairobi

Vantage Capital, an African mezzanine fund manager, announced last week that it has provided $8 million of funding to Rosslyn Riviera Shopping Mall, a 10,777sqm convenient neighbourhood shopping mall in the upmarket suburb of Rosslyn/Runda in Nairobi that officially opened for trading in 2017.  It sits on a 4.5 acre site and offers visitors a […]

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European Investment Bank and African Development Bank back Development Bank of Nigeria

The European Investment Bank and the African Development Bank have agreed to support the creation of the new Development Bank of Nigeria (DBN) to strengthen lending for business and agriculture investment in the country. The African Development Bank on Thursday announced that the European Investment Bank finalized a $20 million equity stake in the new […]

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AfDB approves $20m loan to Santa Clara Medical (AXA Mansard, IFC and ACA’s Hospital Project)

The Board of Directors of the African Development Bank has approved a Senior Loan in Naira (equivalent to USD 20 million) to Santa Clara Medical Limited, a healthcare project promoted by AXA Mansard, a member of the AXA Group, Africa Capital Alliance, IFC and Healthshare Health Solutions, the hospital management company of the project. The funds will […]

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Grit Real Estate Income Group wants to list on the London Stock Exchange

Following an announcement made in late February 2018, the board of directors of Grit have resolved to submit an application to be listed on the Main Market of the London Stock Exchange. Grit is a listed real estate income group operating in carefully selected African countries. The firm’s stated objective is to optimise structural investments […]

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GRIT Group Acquires Office Property in Accra, Ghana

GRIT Group recently signed a binding Heads of Agreement for the acquisition of a 5,070sqm office building named 5th Avenue Corporate Offices in the Cantonments region of Accra, Ghana. Grit will pay Greenline Development Limited, a Ghanaian property developer, $14.35m in cash and will also issue its shares for a total value of $6.15m to […]

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