The Chapel Hill Denham Nigeria Real Estate Investment Trust has expanded its property portfolio to over 120 assets following the successful completion of its Series 5 fundraising exercise, which generated N7bn.
According to the Shariah-compliant fund’s first-quarter financial statement submitted to the Nigerian Exchange Group on Thursday, the fresh capital was deployed to finalise strategic real estate acquisitions and boost the trust’s liquidity.
Specifically, NREIT used the proceeds from the fundraise to pay the remaining balance for an additional warehouse facility located at the Lagos Free Zone, while allocating the residual sum to meet its ongoing working capital requirements.
Following the capital injection, the trust’s diversified portfolio now comprises four standard industrial facilities backed by blue-chip corporate tenants, alongside 119 corporate residential units leased to diplomatic and corporate residents paying dollar-denominated rentals.
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The asset expansion coincided with a strong financial performance for the period ended 31
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