45002
STELLAR WAREHOUSING AND LOGISTICS LIMITED
Apr 29, 2021
Kenya
Africa
May 28, 2021
B - Limited
Active
Jun 11, 2022
Regional Industry - MAS Africa
other
Approved : Jun 17, 2021
Signed : Jul 1, 2021
Invested : May 27, 2022
other
The proposed investment is a US$25.0 million A Loan (“the IFC Loan”) to a Kenyan subsidiary of Grit Real Estate Income Group Limited (“the Group”, “the Guarantor”, “GREIG”), a Mauritius-based listed (London Stock Exchange (LSE), Premium Segment, and Stock Exchange of Mauritius (SEM)) real estate investment company with REIT type characteristics building a diversified portfolio of income generating properties across Africa. GREIG will use the IFC Loan to finance a sale-lease back transaction, which comprises:
i) the acquisition of an industrial facility (“the Existing Facility”) with vacant land in Nairobi, Kenya from its current owner with the immediate lease back of the existing premises to Orbit Products Africa Limited (“OPAL”); and ii) the refurbishment of the Existing Facility as well as construction of new premises on the vacant land (“the Additional Facility”), which will be similarly occupied by OPAL on a long term lease upon successful completion (“the Project”). OPAL is an established regional manufacturer of popular personal care and home care products for multi-national clients in East Africa.
For Inquiries About the Project, Contact
For Inquiries and Comments About IFC, Contact
Local Access of Project Documentation
Summary of Investment Information of Grit REIG (45002).
Same as under “Project Location”.