Positive Impact Property Fund

POSITIVE IMPACT PROPERTY FUND - NAIROBI

 

Property investment in Nairobi

As part of the Truestone Positive Impact Property Fund, we are pleased to announce the opportunity to invest in the Kenya Students Christian Fellowship (KSCF) office development in a prime location in the Westlands district of Nairobi.

  • 20% targeted pre-tax annual return for two and a half years

  • Subject to contract, 75% of office space pre-sold before the build begins

  • Security provided over land and buildings during the build

  • Experienced team based in Kenya managing the build

  • 1,000 new teaching roles funded by the ongoing income generated for KSCF

Download the KSCF office development brochure

First development underway

This is the second real estate investment opportunity launched by Truestone in Nairobi. The first development commenced in March following the successful capital raise to build new offices for the charity, CMS-Africa, in the Kilimani district of Nairobi.

The income from the new building will fund its core training activities including business skills, mentoring, youth development and women's empowerment.  

If you are a Professional or Sophisticated Investor or a High Net Worth Individual who wants to learn more about the second office development within the Fund, please download a copy of the Private Placement Memorandum. Call us on 020 7135 2480 to order a full pack.

Increasing property values

As an important commercial hub for East Africa, land values in Nairobi’s key business and residential neighbourhoods have risen by an average of 535% in just seven years*, and given the low base from which prices started, we believe an overheated market is unlikely. This makes real estate a potentially attractive investment for the right development opportunity in the right district.

Anticipated returns are founded on the value added from the development rather than the increase in property values

Experienced local partner

Truestone together with our local Kenyan investment partner has secured the development rights for two properties in prime neighbourhoods (Kilimani and Westlands)

Local partner co-investment

Our experienced Kenyan investment partner will be investing 10% of the required capital

Attractive returns targeted

We are targeting a pre-tax, annualised return of 20% IRR across two and a half years, made up of a pre-tax return of 15% on the debt element, net of fund charges and currency hedging costs (hedging investor interest earned on the debt) plus targeted growth on the equity element

Security

As advised by our local counsel, Kaplan & Stratton, security will be additionally reinforced using suitable legal instruments, in addition to taking charge over the land itself. This aims to enhance levels of enforceability and increase the legal protections available

Loan to value ratio

On average, throughout the development the ratio will be 44%. This has also been stress tested. There is no expectation of using external bank debt

Assistance for charities

The land is owned by two charities, the Kenyan Students’ Christian Fellowship and CMS - Africa, which are both looking to create income streams to fund their continuing educational work in Kenya

Balanced approach

Truestone was specifically appointed to provide a ‘fair deal’ management process for the project so that investors would be appropriately rewarded and the charities would have a secure sustainable source of income for the future, making them less dependent on donations

Understanding the risks

Please be aware that this is an investment in two development projects, in a developing nation and will involve currency and other significant risks. It is therefore available to certified High Net Worth individuals, Professional and Sophisticated investors only. As an illiquid investment, it is not suitable for those requiring ready access to their capital or seeking lower levels of investment risk.

To receive the full offering documentation please call Guy Ruddle or Neil Sandy on 020 7135 2480 or email info@tiim.co.uk

 * Hass Property Index Q4 2014

 

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