Atterbury Asset Managers – part of the Atterbury Group – has been appointed to manage AttAfrica Limited’s burgeoning US$400.6-million portfolio of retail properties, effective from 1 January 2016.
AttAfrica is a Mauritius-based property investment company focused on investing, developing and acquiring A-grade shopping centres in key sub-Saharan African Markets, excluding South Africa.
Its selection of Atterbury Asset Managers as its partner is strategic as it is targeting a major liquidity event next year.
Commenting on the appointment, CEO of AttAfrica Kevin Teeroorvengadum says: “With our sights set on a possible stock exchange listing in 2017, we want to ensure the optimal performance of our assets in line with our strategies. To achieve this, we chose the industry leading expertise of Atterbury Asset Managers.”
The experienced team at Atterbury Asset Managers is already responsible for properties covering around 800,000sqm in gross lettable area in South Africa, Mauritius, Ghana, Namibia and more recently Europe.
The new AttAfrica portfolio comprises four sub-Saharan African retail centres including West Hills Mall, Accra Mall and Achimota Retail Centre, all in Ghana, as well as Manda Hill Mall in Zambia.
In addition, once AttAfrica’s development of Kumasi City Mall in Ghana is complete in July 2016, Atterbury Asset Management will also manage this asset, bringing the total value of its AttAfrica portfolio under management to nearly US$470 million.
Lucille Louw, Managing Director of Atterbury Asset Managers, says: “We’re delighted to be working with AttAfrica and believe we are in an excellent position to optimise the value and returns of its portfolio.”
