Cytonn to register a development investment trust to diversify real estate funding

KENYA – Cytonn Investment, an independent investments management firm has filed an application with the Capital Markets Authority (CMA), to register a Development Real Estate Investment Trust, (DREIT), seeking to raise KSh2billion (US$20m) of capital. The Investment Trust, which is structured to pay a coupon over the life of the development, will be deployed for the first phases of two of the firm’s real estate projects, The Ridge in Ridgeways, and RiverRun Estates in Ruiru. The capital raise is expected to assist Cytonn diversify funding sources for their real estate…

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