Mara Delta set to clinch second sale and leaseback deal

Posted On Tuesday, 25 October 2016 16:03 Published by
Rate this item
(0 votes)

Mara Delta (formerly Delta Africa), the first multi-listed property fund to offer international property investors direct access to immediate high growth opportunities on the African continent outside of South Africa, today announced that it has entered into negotiations with New Mauritius Hotels Limited to acquire a 45% interest in an entity owning three hotel assets in Mauritius.    

Victoria_Beachcomber

Bronwyn Corbett, Chief Executive of Mara Delta commented:    

“This will be our second sale and leaseback transaction in a very lucrative sector. I need to stress that we won’t take any hospitality or operational risk. The hotels are leased and operated by New Mauritius Hotel Limited, the owner of Beachcomber Hotels and Resorts, and Mara Delta will participate in the earnings generated from the long-term, triple net rental streams.    

“The transaction is in line with our diversification strategy and meets our investment criteria of focusing on exceptional counter parties and long-term, hard currency leases.”

Corbett also pointed to New Mauritius Hotels’ sizeable balance sheet as a key factor when considering tenant strength.  

“New Mauritius Hotels Limited is listed on the Stock Exchange of Mauritius and is included in the SEM-10 Index, which comprises the ten largest and most liquid stocks listed on the exchange. This provides us with significant assurance as far as tenant strength is concerned,” she concluded.    

Last modified on Tuesday, 25 October 2016 16:26

Most Popular

Deeds Office reopening good news for sellers and buyers of property, as well as the property industry

May 01, 2020
Andrew Golding Golding Property Group
Deeds Office reopening good news for sellers and buyers of property, as well as the…

Wide-spread implications for South Africa’s real estate market following COVID-19

May 05, 2020
JLL_Logo
JLL, one of the world’s leading real estate investment and advisory firms, today released…

Deeds office reopen their doors to the public

May 09, 2020
Carlize Knoesen
The Department Agriculture, Land Reform and Rural Development has announced the reopening…

Relooking green buildings in the future of the covid-19 pandemic

May 01, 2020
Brett Chrystal
The Covid-19 lockdown has offered us an unexpected opportunity to reflect on our…

SA REIT appoints Joanne Solomon as its first CEO

May 05, 2020
Joanne Solomon new CEO SA REIT Association
With her wealth of financial and property sector experience, Joanne Solomon has been…

Please publish modules in offcanvas position.