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Nigeria REITs
UACN Property Development Company / UPDC - (Nigeria Diversified)
Wednesday, 10 July 2013 07:05

UPDC was launched by UACN Property Development Company (established 1999), in early-2013 via a N30bn/USD$185m IPO (listed mid-2013), with a diversified initial portfolio of CBD focused residential & commercial properties in and around Lagos, Abuja & Aba including the Victoria Mall Plaza / VMP (Phases 1 & 2 office & residential towers), Abebe Court & the UAC office complex in Abuja with a combined 24k sqm of space. FSDH Asset Management are the fund managers.

UPDC Website Link

UPDC Email Link

 
UAC - (Nigeria Diversified UAC-PROP)
Tuesday, 16 April 2013 05:27

UAC Property Development Co / UPDC (est 1999) buys, develops, sells, leases & manages high-end residential & commercial properties across the country and is a subsidiary of UAC Nigeria (UACN) and launched a N30bn/$190m IPO for its sponsored REIT in early-2013, to focus on residential & commercials in the CBDs with an initial portfolio comprising: Victoria Mall Plaza, Victoria Island - Phase 1 (VMP Residential) & 2 (VMP Office Tower) in Lagos; UAC Office in Abuja; Abebe Court in Ikoyi; and a multi-purpose commercial on Factory Road in Aba. The company intends to use the funds raised to unlock more value-generating business, specifically by developing some “huge properties” using its land bank. Projects that could end-up in the REIT include: Lagos’ Festival Mall; Metro Gardens in Lekki; Granville GRA in Ikeja; Cameron Green in Ikoyi; Emerald Court in Apo; Metro City Apo in Abuja; Emerald Court & the Nigeria Air Force Foundation / NAFF estate in Port Harcourt. UAC (listed 1997) started out as United African Co in 1879 (when Alexander Miller Brother & Co, Central African Trading Co, West African Co & James Pinnock merged), and so ended-up with a large real estate portfolio of warehouses, offices & expat / high-end residential across the country.

UPDC Website Link

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Last Updated on Tuesday, 16 April 2013 06:00
 
Skye Shelter Funds Nos. 1&2 / SSF– (Nigeria)
Tuesday, 12 July 2011 10:48

Skye Bank is one of the oldest banks in Nigeria (and one of the ‘Top 5’ with over 260 branches & 600 ATMs, and a balance sheet of about N1tr / USD$7bn); is a large financial services group with 450k shareholders (with about N88bn / USD$550m in shareholder funds); and subsidiaries including: Skye Financial Services; Skye Stockbrokers; Law Union & Rock Insurance; Apex Integrated Technologies; Skye Trustees; Skye Mortgage Bankers building society; Skye Bank Sierra Leone; and Skye Bank Gambia; plus branches in Liberia, Sao Tome and Principe, Angola, Congo (DRC), Guinea and Equatorial Guinea; and is a major in player in Telecommunications, Oil & Gas, Power, Manufacturing, Transportation and Infrastructural financing. The Skye Shelter Fund is a closed-ended ‘hybrid’ REIT Scheme that invest approx 75% in direct property and upto 25% in real estate related investments (mortgages, real estate backed securities, real estate related equities, and upto 10% in cash for liquidity purposes). It was Nigeria’s first publicly quoted close-ended REIT, launched in 2007/8 with an initial N2bn / approx USD$12.5m focusing on residential homes, shopping malls, shops, hotels, offices and warehouses, with a portfolio including Kabusa Gardens (50he residential development in Abuja); Victory Park (a residential JV development in Lekki); Northstar Gardens (a 12he residential development in Abuja); Sapphire Gradens (a 50he residential development in the Lekki-Epe Expressway corridor of Lagos); Harold Sodipo (an apartment development); and prime properties in Ikoyi. It targets institutional investors; is managed and sponsored by Skye Bank; the trustee is PHB Capital & Trust; and the external real estate adviser Ubosi Eleh & Co.

SkyeShelterFund Website Link

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SkyeBankng Website Link

 

Last Updated on Monday, 13 February 2012 05:37
 
Union Homes Hybrid REIT- (Nigeria UHOM)
Tuesday, 12 July 2011 10:47

Union Homes Savings and Loans (a subsidiary of Union Bank of Nigeria – “the country’s leading mortgage finance institution”), was established in 1992 and claims to be Nigeria’s “flag-bearer" of the housing sector, specializing in mortgage banking, but also offering retirement / pension savings; Uni-Homes Savings; Union Homes Corporate Employees Savings; and a House At Homes Scheme. It has about 25 branches across the country; equity in HFC Bank (Ghana); and boasts of funding the building of the Union Homes owned mall of approx 150 shops in Central Lagos; and 50he of land in Ajah for a housing estate (amongst many others). The Union Homes Hybrid REIT was the first in Nigeria, launched 2008 with N50bn / approx USD$320m, aimed at targeting providing and financing affordable homes for the 140m population, given that the country’s needs and estimated at 12 million units worth about N30tr; and commercials.

UnionHomes REIT Website Link

UnionHomes Website Link

UnionHomes Email Link

MoneyHub Chart Link

Last Updated on Thursday, 20 November 2014 02:03