Femab Properties Receives the Initial Drawdown of $10 million from MESA Fund 1
- Created: Tuesday, 19 December 2017 11:51
- Written by Super User
VICTORIA ISLAND, Nigeria, Dec. 19, 2017 -- Femab Properties Limited, a Nigerian based Real Estate development & Investment company, announced today that the Company has received the proceeds of the initial drawdown to a total tune of $10 million, the same is the result of the financing agreement that Femab signed with Milost Global Inc under the MESA Fund 1 for a facility of $500 million. The transaction was advised by Palewater Advisory Group Inc and Mayo BV.
Abiodun Aguda, CEO of Femab, stated, “This initial draw down is a confirmation of the Milost Global Inc. commitment to investment in Nigeria being the largest and most vibrant economy in Africa and reposed belief in the vision of Femab Properties. The funds will immediately be deployed to the completion of the ongoing projects and also to set up IT sophisticated infrastructure in order to drive our real estate solution which we have decided to take to the academic environment by delivering comfortable accommodation to students in tertiary institutions with a view to growing shareholder value. Our profound and sincere appreciation goes to our Financial Advisor, Mr Femi Bello, the CEO of MAYO BV and Palewater Advisory Group Inc Johannesburg Office for this epoch making and historical transaction.”
CFO of Femab, Adeyemi Gafar, stated, “With this drawdown, Femab Properties will set the pace in African real estate and infrastructural sector, we are poised to redefine the industry. With the support of Milost Global, our long vision of being a household name and a dominant force in the real estate industry has surely been solidified. The contribution of real estate sector to the economic growth of Nigeria and Africa in general would improve significantly. The fund would help significantly in fast-tracking some of the ongoing developments and bring superlative earnings to all stakeholders."
Solly Asibey, Senior Partner & President of Milost Global Africa, said, “We are so glad to be associated with visionaries who have the strategy and know-how to get traction within their fields of expertise. Femab has proven to be endowed with such personnel, and as such we made a conscious decision to support them in their journey to be counted amongst the real estate giants in West Africa and Africa a whole. Palewater as the lead transaction advisor, with the support of Mayo BV, as well as the Milost Investment Associates did a sterling job in structuring this transaction accordingly, whilst hand-holding and taking Femab through a thought process in order to get to financial close swiftly.”
Egerton Forster, Senior Partner & Chairman of Milost Global Inc, stated, “Our aim is to impact Nigeria in a manner that will boost investor confidence and drive Foreign Direct Investments right where they belong. We are extremely excited and happy for Abiodun and his team. Milost will continue to look for opportunities that will help us to build a strong portfolio of investments, working together with Mayo BV, Palewater Advisory and Banklink Africa Limited in Nigeria.”
About Femab Properties Limited
Femab Properties Limited is a limited liability company incorporated in the year 2000. The company is into full range of real estate development and allied services such as Technical Consulting, Civil & Engineering Construction, Projects Management, Facilities Management, Property Sales & Letting and Estate Development.
Being a dynamic company with seasoned professionals, Femab Properties Limited has single-handedly executed diverse real estate projects, some of which are: Dream Home Estate at Ikorodu, Peninsula Garden Estate at Ogombo - Lekki, Diamond Estate 1 at Sangotedo - Lekki, Lagos. The company is presently coordinating more upscale projects namely; Diamond Estate 2 at Sangotedo – Lekki, Platinum Gate Estate at Alaka – Surulere, Association of Nigerian Physicians in America (ANPA) in addition to federal and state government mass housing projects in Nigeria.
The company operates subsidiaries in Blockmaking, Quarry, Haulage and Logistics and has a strategic partnership with a reputable international Dredging firm. www.femabproperties.com
About Milost Global Inc
Milost Global Inc is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is at the intersection of creative investing and value creation. Milost is also a provider of alternative capital, mezzanine finance, and alternative lending to a broad range of industries across the globe including Technology, Transport, Cannabis, Education, Distribution, Mining, Oil & Gas, Financial Services, Healthcare, Pharmaceuticals, Real Estate, Alternative Energy and Infrastructure Development. www.milostglobal.com
About Palewater Advisory Group Inc.
Palewater Advisory Group is a multinational corporate and public affairs advisory firm with headquarters in New York. We specialise in cross-border and M&A transactions, financing, public affairs, political campaign capital raising and strategy. Collectively as the team, we have had an excellent track record with more than 1000 references in our line of advisory work. We have a robust and yet solid network of contacts with specific focus on certain core industries, investment and banking communities. Our directors, leaders, professionals, and senior advisors collectively provide access to senior industrial, political, economic, government and financial decision makers throughout the world.
We provide individual and personal advice and react swiftly to our clients’ needs, while always providing direct access to the team, including the partners involved. As a professional services firm, we provide the best possible advice based on confidentiality and total discretion. We are committed to the principles of integrity and client service, and operate free from any conflict of interest. www.palewateradvisory.com
About Mayo BV
Mayo BV as a creative, value driven financial services provider plays around a network of funding platforms that deliver seamless solutions to funding and investment needs of high growth private sector firms and government owned corporations.
We provide a fulcrum upon which the plank of business ideas and creativities swing to provide the lift over economic hurdles and financial barriers to yield business mission-critical results. Mayo BV is at the centre of financial universe around which revolves a galaxy of financial solutions: fund raising, financial advisory services.