{"id":2931,"date":"2022-10-31T08:56:50","date_gmt":"2022-10-31T08:56:50","guid":{"rendered":"https:\/\/www.content.shelterafrique.org\/en\/?p=2931"},"modified":"2022-11-14T08:24:00","modified_gmt":"2022-11-14T08:24:00","slug":"shelter-afrique-approves-usd24-million-housing-loan-to-lagos-based-real-estate-firm-landmark-africa","status":"publish","type":"post","link":"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-usd24-million-housing-loan-to-lagos-based-real-estate-firm-landmark-africa\/","title":{"rendered":"Shelter Afrique approves USD24 million housing loan to Lagos-based real estate firm, Landmark Africa"},"content":{"rendered":"<p><strong>Shelter Afrique approves USD24 million housing loan to <\/strong><strong>Lagos-based real estate firm, <\/strong><strong>Landmark Africa <\/strong><\/p>\n<p> &#8211; The facility will partly finance the construction of mixed-used housing project, Landmark Waterview Apartments and refinance its existing debt <\/p>\n<p><strong>Nairobi: November 1, 2022:<\/strong> Pan-African housing development financier Shelter Afrique has approved a USD24.03 million (\u20a610 billion) commercial loan to Lagos-based Tier 1 real estate and property development firm, Landmark Africa.<\/p>\n<p>The 7-year line of credit with a moratorium of 36 months has been structured to partly finance the construction of mixed-use housing project, Landmark Waterview Apartments and refinance its existing debt.<\/p>\n<p>\u201cWe are excited to record this significant milestone as the first project we are partnering with Landmark Africa. This is truly a high-point for Shelter Afrique and we are happy that the deal is adding to the long and successful history the Company has had with Nigeria,\u201d Shelter Afrique Ag. Managing Director Kingsley Muwowo said.<\/p>\n<p>\u201cWe remain committed to financing real estate projects that promote innovation and affordability, and we look forward to a long-term relationship with Landmark Africa,\u201d he added.<\/p>\n<p><strong>Mixed-use destinations <\/strong><\/p>\n<p>Commenting on the deal, Landmark Africa Chief Executive Officer, Mr. <strong>Paul Onwuanibe<\/strong> said, \u201cthe Landmark Africa vision is to create one stop destinations which embody the business, leisure and lifestyle philosophy.\u201d<\/p>\n<p>\u201cSuch innovative undertakings in the real estate sector require a formidable financial partnership and we are pleased to have found such a partner in Shelter Afrique. We are equally pleased to receive this long-term funding, which will help accelerate the delivery of the Landmark Waterview Apartments project thus enhancing the residential play within our mixed-use ecosystem while having a multiplier effect on the existing business, leisure and lifestyle service offerings. It will also help align our capital structure to our long-term strategic goals\u201d Mr. <strong>Onwuanibe<\/strong> added.<\/p>\n<p>\u00a0<strong>Key market<\/strong><\/p>\n<p>Nigeria remains one of the key markets for Shelter Afrique. In addition to the Landmark Africa deal, the Company has so far extended lines of credit to another Lagos-based real estate firm Mixta Africa (USD19.5 million) and Wema Bank (USD10 million), this year alone.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shelter Afrique approves USD24 million housing loan to Lagos-based real estate firm, Landmark Africa &#8211; The facility will partly finance the construction of mixed-used housing project, Landmark Waterview Apartments and refinance its existing debt Nairobi: November 1, 2022: Pan-African housing development financier Shelter Afrique has approved a USD24.03 million (\u20a610 billion) commercial loan to Lagos-based &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.content.shelterafrique.org\/en\/shelter-afrique-approves-usd24-million-housing-loan-to-lagos-based-real-estate-firm-landmark-africa\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Shelter Afrique approves USD24 million housing loan to Lagos-based real estate firm, Landmark Africa&#8221;<\/span><\/a><\/p>\n","protected":false},"author":5,"featured_media":2947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4,321],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.5.1 - 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