IFC is considering an investment package of up to ZAR300 million (~US$18 million) in a special purpose vehicle (“Pula SPV”), managed by Live Easy Property Management (Pty) Ltd (“Live Easy” or “the Company”), a South African property development and management company specializing in affordable urban rental housing (the “Project”).

The Company’s offering is based on a “nano-unit” concept — compact, self-contained apartments with a kitchenette and bathroom. Live Easy’s model involves acquisition of underutilized or distressed office buildings and converting them into residential rental assets, typically complemented by amenities such as laundromats, gyms, common areas, and Wi-Fi.

To date, Live Easy has delivered 5,516 nano units and has additional units currently under development. These projects have been financed through a series of  standalone SPVs backed by South African institutional investors, with Live Easy serving as investment and property manager, whilst its parent company, Twentyfive 15 (Pty) Ltd (“Twentyfive”), provides development management services.

Proceeds will be used by the Pula SPV to acquire and refurbish/convert properties into additional affordable nano rental units and to fund related project costs, targeting low- and middle-income households primarily in Johannesburg and Pretoria.                                  

IFC is engaging Live Easy on a targeted advisory package to support private capital mobilization, including EDGE certification support, gender-differentiated design integration, and an investor event.