Stanlib Fahari I-Reit chief executive Kenneth Masika on Thursday told investors the unit has identified another suitable property and entered into a binding agreement for purchase at Sh850 million.
This is subject to Capital Markets Authority (CMA) and unit holders approvals. The new acquisition is a Grade A low rise office in Lavington’s Gitanga Road, from which the management expects a first-year income generation of about Sh73.8 million with an escalation of 15 per cent every two years.
