Grit Real Estate Income Group Ltd enters into an Equity Investment Agreement for GBP 15,000,000 with Perpetual Value International Ltd


Aug 16, 2022
Grit Award Perpetual Value

[London, United Kingdom] –(BLOOMBERG)– Grit Real Estate Income Group Ltd (the Company) is pleased to announce that it has entered into a strategic Equity Commitment Agreement with Perpetual Value International, a leading global investment firm. The Company has a firm equity commitment from Perpetual Value for GBP 15,000,000 to be drawn down based on the Company’s cash flow needs over the next 36 Months. This Agreement allows the Company to control the amount, timing, and minimum purchase price of any investment which guarantees operational flexibility for the group. This equity commitment will also strengthen the Company’s balance sheet.

The CSO of Grit Real Estate Income Group Ltd, Darren Veenhuis said:

“We are extremely pleased to be partnering with Perpetual Value, especially during these unforeseen times affecting everyone around the globe. Perpetual’s investment grants us the operational and financial flexibility to generate new growth opportunities while maximising shareholder value. We are thankful for the confidence that they have conveyed in us, and we look forward to a fruitful partnership with them over the coming years.”

The Managing Partner of Perpetual Value, Paul Jaber said:

“Perpetual Value could not be prouder to have selected Grit Real Estate Income Group Ltd as a long-term investment to our portfolio. We look to partner closely and cooperatively with management teams and entrepreneurs that have track records of success such as Grit Real Estate Income Group Ltd. We believe that the combination of our industry knowledge, investment experience, and operational expertise provides Perpetual Value with an edge in identifying and creating value in investment opportunities. Our strategy is not only to work as partners with the management of Grit Real Estate Income Group Ltd, but also to assist in the operations of their business and leverage all of the resources of our global platform.”

About Perpetual Value

Established in 2003 by Paul Jaber, Perpetual Value is a leading global investment firm that invests in public companies around the world. Perpetual Value International Advisors is the investment advisor for the Perpetual Value Opportunities Funds and a number of managed accounts. Perpetual Value’s primary investment objectives are (i) to preserve capital in all market conditions and (ii) to generate attractive rates of return with low volatility by using a disciplined top-down approach. Perpetual’s approach is fundamental and research-intensive with high-quality people, pursuing the highest standard of excellence. Perpetual Value invests throughout the capital structure (including senior credit facilities, corporate bonds, equity, and equity-linked securities) and across a broad spectrum of companies and industries.

About Grit Real Estate Income Group Ltd

Grit Real Estate Income Group (“Grit” or “the Company”) is a leading pan-African real estate company focused on investing in and actively managing a diversified portfolio of assets in carefully selected African countries (excluding South Africa). Grit’s high-quality assets are underpinned by predominantly US$ and Euro denominated long-term leases with a wide range of blue-chip multi-national tenant covenants across a diverse range of robust property sectors including corporate offices, retail shopping centers, hospitality assets, logistics and distribution warehouses and corporate accommodation. The Company is committed to delivering strong and sustainable income for shareholders, with the potential for income and capital growth.