Growthpoint Properties Ltd. and Investec Asset Management's pan-African real estate investment business Growthpoint Investec African Properties has begun operations.
Growthpoint Investec, which was first announced in 2015, has secured more than US$212 million of commitments from institutional and international investors, with Growthpoint investing US$50 million.
The fund, which was established in partnership with the International Finance Corp., will invest in income-producing commercial real estate assets in certain cities, with a focus on long-term rental growth from top-tier tenants.
