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Stanlib In Deal For Purchase Of Sh850m Office Space In Nairobi

by businessdailyafrica.com posted 3months ago 19 views
Stanlib Fahari I-Reit has identified another suitable property and entered into a binding agreement for purchase at Sh850 million. : Stanlib Fahari I-Reit chief executive Kenneth Masika on Thursday told investors the unit has identified another suitable property and entered into a binding agreement for purchase at Sh850 million. This is subject to Capital Markets Authority (CMA) and unit holders approvals. The new acquisition is a Grade A low rise office in Lavington’s Gitanga Road, from which the management expects a first-year income generation of about Sh73.8 million with an escalation of 15 per cent every two years.

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