Pesa Nane wrote:Subsequent event
On 26 March 2018, the REIT, represented by the REIT Trustee, entered into an agreement to acquire an entity that owns an office building (100% interest in STARLING PARK PROPERTIES LLP, which owns Land Reference Number 3734/1426 (Original Number 3734/917), Nairobi, on which is developed an office block measuring 41,312 square feet), subject to regulatory and unitholder approval as well as other conditions precedent. The transaction will be completed in Q2 2018. The total consideration will be financed through the existing cash reserves.
Borrowings
STANLIB Fahari I-REIT is currently ungeared.
The AGM notice indicates the target company is Starling Park Properties LLP, which owns Land Reference Number 3734/1426 (Original Number 3734/917), Nairobi, on which is developed an office block measuring 41,312 square feet.
A Google search shows Starling to be an Acorn affiliate, and it came up during that Cytonn fiasco. Any clue which office space this is?
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