Fresh prospects maybe on the card for real estate investors seeking property ownership without the attendant expenses or difficulties of being a landlord, if statements made recently by one of Nigeria’s leading property development company – Top Services Limited (TSL) are anything to go by.
The company with specialty in providing “neighbourhood” malls has announced, it will float a N20 billion Real Estate Investment Trust (REIT) in the capital market.
REITs are corporations or trusts that use the funds of many investors to purchase and manage income property and/or mortgage loans. It is traded on the Nigerian Stock Exchange (NSE) just like shares.
According to the CEO of First Ally Capital, Mr. Ebenezer Olufowose, access to long term financing like that of the PFAs can help lower cost of rent for tenants on the long run. “This is an opportunity to monetize existing assets and developing TSL investment with some borrowed funds from the bank. We are not bringing in asset, the asset already exist, the cash flow are there, they are guaranteed and we have anchor tenants like shoprite, and other major tenants who have contracts, signed contract with the sponsor.
YOU CAN’T LOSE INVESTING IN REAL ESTATE IT IS ALWAYS A WIN WIN CASE….. WHY WAIT? INVEST NOW!