Cytonn head of real estate private equity Shiv Arora said the new capital affirmed the Finnish confidence in Cytonn as a brand.
He added that Cytonn was looking into more areas of collaboration especially on low-cost housing.
Listed Finnish financial group Taaleri Oyj’s has raised its project funding in real estate firm Cytonn Investments to Sh5.1 billion with a fresh injection of Sh2.1 billion.
Taaleri head of Real Estate Funds in Africa Antti-Jussi Ahveninen said the investment was advised by attractive returns from past funds deployed via Cytonn that delivered high-end homes for sale to Kenyans.
This is the fourth investment by the firm in Cytonn where it exited investments in two projects—Amara Ridge in Karen and The Alma in Ruaka.
Another Sh3 billion is still committed in ongoing projects, notably the Sh12 billion mixed-use development, The Ridge, located in Nairobi’s Ridgeways area.
Cytonn head of real estate private equity Shiv Arora said the new capital affirmed the Finnish confidence in Cytonn as a brand.
He added that Cytonn was looking into more areas of collaboration especially on low-cost housing.
Taaleri strategy incorporates disbursement of funds for a five-year period where they enjoy exclusive rights of converting investment into equity in case of default.
Cytonn, with offices in Nairobi and DC Metro in the US, primarily focuses on offering alternative investment solutions to individual high net-worth investors, global and institutional investors and Kenyans in the diaspora.
It currently manages Sh82 billion of investments and projects, mainly in real estate.
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