Property developer Acorn is aiming to raise Sh1.5 billion by January 2024 from existing unit holders of its development Reit for the expansion of its student hostel portfolio.
A semi-annual report on the Acorn Student Accommodation (ASA) D-Reit says the offer period started with a rights issue, which raised Sh230.5 million by the end of June, with the funds deployed towards ongoing projects, deposits for land acquisition and fund costs.
