Hyprop & AttAcq explore disposal of Sub-Saharan Africa shopping centre assets

Dolapo Omidire . 8 years ago

Hyprop & AttAcq explore disposal of Sub-Saharan Africa shopping centre assets

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Article Summary: Hyprop and AttAcq are disposing of their $630m property portfolio, mainly in sub-Saharan Africa, to reduce their exposure. This includes Ikeja City Mall in Lagos and four retail centres in Ghana. Other investors, like Growthpoint Investec Africa Properties and GRIT, have also launched or listed African real estate businesses.

Hyprop and AttAcq are currently investigating a reduction of their exposure to sub-Saharan Africa (ex. SA) through the disposal of their portfolio of property assets worth over $630m.

Assets in the portfolio in question include Ikeja City Mall in Lagos – Nigeria; Manda Hill in Lusaka, Zambia and four retail centres in Ghana including Accra Mall, West Hills Mall, Achimota Mall, and Kumasi Mall.

Investors who are currently seeking income-producing assets in Sub Saharan Africa include Growthpoint Investec Africa Properties, who launched operations in their Pan-African real estate business with over $212m committed earlier in this year; and GRIT, the pan-African real estate income fund who recently concluded their listing on the London Stock Exchange.