Growthpoint Investec African Properties kickstarts Africa acquisitions
A joint venture between Growthpoint Properties and Investec Asset Management, Growthpoint Investec African Properties (GIAP) has begun executing on its strategy to aggregate a portfolio of prime income-producing commercial assets in select cities across Africa.
GIAP also expects to announce a further acquisition of another key asset in the near term.
In 2018, GIAP secured capital commitments of more than $212m from several large institutional and international investors. Given the current pipeline of assets under discussion, GIAP’s capital is likely to be fully invested by the end of 2019, and its investments further diversified across the office, retail and industrial sectors.
Achimota Retail Centre has been acquired from AttAfrica, a joint venture of JSE-listed REITs Attacq Limited and Hyprop Investments Limited, and certain minority shareholders.
Source: bizcommunity.com