March 25, 2018

GRIT Group Acquires Office Property in Accra, Ghana

Dolapo Omidire

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 Costa Beira for providing the Rental Guarantee in relation to the anchor tenant lease. The aggregate purchase consideration for the acquisition of the Property is $20.5m. The purchase yield attributable to investors for this transaction is 10.13%.

GRIT Group Acquires Office Property in Accra, Ghana. Image Source: greenling.com
GRIT Group Acquires Office Property in Accra, Ghana. Image Source: greenling.com
GRIT Group Acquires Office Property in Accra, Ghana. Image Source: greenling.com
GRIT Group Acquires Office Property in Accra, Ghana. Image Source: greenling.com
GRIT Group Acquires Office Property in Accra, Ghana. Image Source: greenling.com
GRIT Group Acquires Office Property in Accra, Ghana. Image Source: greenling.comprivate equity

 

 

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