Vantage Capital supports affordable housing in Limpopo with $4.9m

55455328_272539963676599_4246041498170163200_n

Vantage Capital announced that it has invested US$4.9 million into the development Kayalane Heights, an affordable housing project in Limpopo, South Africa. The promoter of the transaction is the Alleyroads Group, an eminent South African black-owned property development company led by Ivan Pretorius. Alleyroads has developed more than 3000 residences across South Africa. This includes about 1500 affordable homes.

The government of South Africa estimates that there is a housing deficit of approximately two (2) million homes. The public and Private sector have implemented a plethora of initiatives to reduce the housing deficit however this seems insignificant since the current rate population growth far surpasses the rate at which affordable houses are being delivered.

Founded in 2001 Vantage Capital Group has expanded to be the largest independent pan-African mezzanine debt fund manager on the African continent. It has raised funds of US$ 1.1 billion in six distinct technology, mezzanine, and renewable energy debt funds and has to date made 53 investments across the African continent.

Warren van der Merwe, Managing Partner at Vantage Capital said, “Vantage Capital is excited to be investing in the affordable housing space, making access to affordable housing a reality for hundreds of South Africans. We are very impressed with Alleyroads’ strong management team, vision, and track record of quality execution over the past 12 years.”

Ivan Pretorius the Managing Director of Alleyroads Group noted, “Alleyroads sought a strong funding partner to support the Kayalane Heights precinct, we are delighted to see the confidence Vantage Capital has placed in the development and we welcome a long term partnership.”

 

myfisense

myfisense


Leave a Reply

Your email address will not be published. Required fields are marked *

FI Sense

FREE
VIEW