Growthpoint Properties JV’s with Investec to pursue Real Estate in Africa

SA’s largest Reit, Growthpoint Properties today announced the launch of a pan-African real estate investment in several African markets outside of South African borders.

Delta Africa Property Fund, a listed Reit is also scouting for African investment deals, having run out of opportunities back home.

Growthpoint is investing alongside Investec Asset Management, the global investment management firm, partnered by the International Finance Corporation (IFC) to launch a pan-African investment strategy.

In the deal, Growthpoint entered a 50/50 joint venture with Investec to form a new management business, which will establish and grow a significant diversified pan-African (excluding South Africa) third-party institutional real estate investment vehicle.

In addition to its 50% direct stake in the manager, Growthpoint will invest an initial US$50 million into the vehicle, with IFC also supporting it with a... TO GET THE FULL STORY, CLICK HERE FOR MORE