Vantage Capital, a mezzanine fund manager based in South Africa, has announced that it has funded Rosslyn Riviera Shopping Mall with $8 million.
Rosslyn Riviera, which began operations in 2017, is a shopping mall located in Nairobi’s upmarket area of Runda and sits on 4.5 acres with 18,211 square metres.
“Kenya has always been of strategic importance for Vantage, and therefore we are pleased with our 1st transaction in the country and to be investing in a premium asset such as Rosslyn Riviera. Peter Gethi and his entire team have done an exceptional job developing the mall and we are extremely confident in their ability to further the future success of the project,” Warren van der Merwe, Chief Operating Officer of Vantage Capital added.
The shopping mall investment is Vantage Capital’s seventh transaction in Fund III, a $280 million fund, with 55 percent allocation to countries outside South Africa. The investment also represents the 25th transaction by Vantage across three generations of mezzanine funds.
Werksmans Attorneys and Bowmans Kenya provided legal counsel to Vantage in South Africa and Kenya in that order while Thaara was advised by Hamilton Harrison & Mathews, Meghraj Capital, and I&M Burbidge Capital.