Interested Investors can now apply to invest in naira and get dividend payments in dollars. The Nigeria Real Estate Investment Trust (“NREIT” or “Fund”) Series 2 Issue of up to N44.6 billion (the “Offer”) under the N100 billion Shelf Programme is NOW OPEN, Chapel Hill Denham Consultancy Limited is happy to announce. Chapel Hill Denham Management Limited (“CHDM” or the “Fund Manager”) is responsible for managing the Fund, and it is properly registered with the Securities and Exchange Commission (SEC).
A wide variety of investors have a singular chance to access Nigerian real estate through the NREIT Fund. The Fund’s goal is to invest in and purchase top-notch, Shariah-compliant, Agrade, income-producing commercial real estate assets in Nigeria across office, retail, industrial, corporate residential, student housing, and other specialty asset sub-sectors, and then to provide investors with alluring risk-adjusted real estate returns, including a quarterly cash distribution.
Following the Series 2 Offer, these quarterly payouts will be made in the currency that tenants across NREIT’s portfolio used to pay their rent.
The Series 2 Offer’s funds would be used to purchase a premium corporate residential portfolio in Maitama, Abuja (referred to as “the Abuja Portfolio”). The 119 different properties that make up the Abuja Portfolio are all rented out for US dollars. Blue-chip international organizations make up 87% of the portfolio’s tenants, many of whom have been there for over ten years.
In order to purchase the Abuja Portfolio, NREIT is essentially raising Naira from investors. Investors would receive dividends in the currency of the rental income given by tenants, which is now primarily US dollars.
Regular income, income growth, capital growth, and the impact of numerous capital raising to develop scale and portfolio diversification are all characteristics of the Fund’s return profile, which ultimately supports the stability of the quarterly distributions the Fund has recommended.
The Offer will begin on February 28 and end on March 17, 2023, respectively.
Dividends paid using the official exchange rate into a Dollar account or its counterpart in Naira.
How To Apply
- Interested investors should go to https://funds.chapelhilldenham.com/auth/login and login or create an account to apply.
- Enter your current Dollar account number in the portal’s “My Profile” area. Please disregard if you don’t have one.
Call us at 0700 CHAPELHILL (0700 242735 4455) from 9 AM to 5 PM, Monday through Friday, if you have any queries or would like more information.