The REIT Manager has appointed Cushman & Wakefield Excellerate trading as Excellerate Kenya Limited(“Excellerate Kenya”), a specialist Property Manager, to provide property management functions in respect of the REIT’s properties.
Excellerate Kenya is a joint venture between Excellerate Property Services Kenya Ltd (“EPS Kenya”) and Grenadier Group Ltd (“Grenadier”). EPS Kenya owns 70 per cent of Excellerate Kenya and itself is a subsidiary of Excellerate Property Services (Pty) Ltd (“EPS”). As a value driven organisation, EPS is a property management technology, skill and applied services group that provides a wide range of integrated property related services solutions and services in Africa.
The property portfolio currently under management by Cushman & Wakefield Excellerate in South Africa comprises of approximately: ZAR 58 billion of asset value; 2,000 commercial and retail properties; 18,300 tenants; and 8 million square metres of lettable space.
Cushman & Wakefield Excellerate has in excess of 230 clients throughout Southern Africa of which 11 are listed on the Johannesburg Stock Exchange. The vast majority of these management agreements are for Property & Facilities management agreements for buildings. However, they also render full facilities management services for corporate tenants.
Cushman & Wakefield Excellerate has an extensive national and international footprint, with offices in Nairobi (Kenya), as well as Maseru (Lesotho), Windhoek (Namibia), Gaborone (Botswana), Lagos (Nigeria), Harare (Zimbabwe), Lusaka (Zambia) and Accra (Ghana). Excellerate Kenya Limited has been involved in the management of 8 buildings owned by the Grenadier Group around Nairobi totalling over 200,000 square feet since July 2014 and will continue to manage this portfolio.
The scope of services managed by Excellerate Kenya in respect of the STANLIB Fahari I-REIT property portfolio include: