Momentum Africa Real Estate Fund

The Fund will own and develop prime retail (i.e. shopping malls, office blocks and industrial buildings) real estate projects in targeted in Sub-Saharan African countries outside the CMA (Common Monetary Area known as South Africa, Lesotho, Swaziland).

The initial countries the Fund will focus on are: Nigeria, Ghana, Mozambique, Zambia and Kenya. The MMI Group has a business presence in all of these countries and familiarity with their tax, legal and regulatory environments, as do the individual team members.

The Fund’s objective is to achieve long-term capital appreciation by investing in real estate developments that have a good prospect for long-term growth. The Fund will focus on “value-adding” real estate transactions, being those transactions in which value creation is primarily achieved through the development or refurbishment, active management and positioning of assets, and not simply through tracking the broader real estate market. The property portfolio of the Fund will not be benchmarked to any index.

Financial description

The Fund is seeking to raise a target fund size of US$250 million (two hundred and fifty million United States Dollars) in aggregate capital commitments from institutional, professional or sophisticated Investors The minimum investment per Investor is US$1 million (one million
United States Dollars). The Fund seeks to achieve a minimum internal rate of return (“IRR”) on its aggregate portfolio of 18-20% per annum in USD and a nominal return on capital invested of at least twice the amount invested by the Investor over the timeframe of the investment.