Mara Delta pursues Kenyan distribution facility and land
Mara Delta, the pan-African property fund, has started negotiations to acquire a 13,560m² distribution facility and a plot of land from Imperial Health Sciences Kenya on a sale and leaseback basis. The company aspires to join the top 10 largest companies on the Stock Exchange of Mauritius. This would put it in a good position for future inclusion on the SA Listed Property index, the JSE’s benchmark index for listed property. The acquisition is secured by a renewable, ten-year triple net lease. The purchase consideration is $16.88m (R225m) and will be funded on a debt-free basis. Imperial Health Sciences is a subsidiary of JSE-listed global conglomerate Imperial Holdings. Mara Delta would also acquire a 20,220m² vacant plot of land adjacent to the distribution facility for a purchase consideration of $2,9m (R40.1m). CEO Bronwyn Corbett said the deal would provide consistent and secure returns to shareholders. "We are very excited about this transaction that will increase our exposure...
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