- Tigere REIT is negotiating to acquire two income-producing assets
- Successful negotiations will require unitholder approval at an EGM, with details provided in a ZSE-compliant Circular
- Terrace Africa Asset Management advises caution in trading Tigere REIT units on the ZSE pending further transaction details
Harare- The Tigere Real Estate Investment Trust (“the Trust” or “the REIT”) is in advanced negotiations with related parties to acquire two income-producing assets for its portfolio, according to its latest circular, signalling a significant step toward enhancing its market position.
This development, disclosed in a statement to unitholders, is expected to have a substantial yield-accretive impact on the REIT, fostering Net Asset Value (NAV) growth and further diversifying its lease counterparty base.
The potential acquisitions align with the Trust’s strategy to bolster its portfolio with high-quality, income-generating properties, promising enhanced returns and greater financial stability for investors.
Terrace Africa Asset Management, the REIT’s managers, has advised unitholders and the public to exercise caution when trading the REIT’s units on the Zimbabwe Stock Exchange (ZSE) until further details are provided, reflecting the potential market implications of this move.
Should these negotiations succeed, the acquisition process will adhere to the ZSE Listing Rules, requiring the Trust to seek unitholder approval at an Extraordinary General Meeting (EGM).
To ensure transparency, Tigere REIT will issue a Circular in accordance with Part XI of the ZSE Listing Rules, providing unitholders with comprehensive details about the proposed transaction, including the assets’ financial and strategic implications.
Established as the first Real Estate Investment Trust listed on the ZSE in November 2022, Tigere REIT has quickly become a cornerstone of Zimbabwe’s property investment landscape.
Managed by Terrace Africa Asset Management, a firm renowned for its expertise in property investment and management, the REIT focuses on owning and operating a diversified portfolio of retail and commercial properties.
Its flagship assets, such as the Highland Park Shopping Centre and Village Walk Borrowdale, exemplify its commitment to delivering stable, inflation-linked returns to unitholders while capitalizing on Zimbabwe’s growing real estate market.
Beyond these acquisitions, Tigere REIT is actively pursuing additional growth opportunities.
The Trust is exploring the development or acquisition of new retail and commercial properties in high-demand areas, leveraging trends in urbanization and consumer spending.
These initiatives align with its mission to provide sustainable returns and contribute to the development of Zimbabwe’s real estate sector.
Therefore, Tigere REIT’s ongoing negotiations for two income-producing assets mark a pivotal moment in its growth trajectory.
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