Property Manager

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:

  • Administration of leases and tenancy agreements
  • Billing and collection of rents
  • Carrying out reviews and escalations of rents
  • Leasing of vacant units – formulating a leasing strategy, structuring leases, rental rebates and lease cancellations
  • Preparation of letters of offer and negotiation of leases
  • Supervision of service providers
  • Co-ordination of payments to service providers
  • Co-ordination of payment of all statutory outgoings
  • Attending to tenancy matters
  • Administration and transparency of service charge accounts
  • Conducting physical inspections of the direct properties on a regular basis and ensuring that they are maintained in good order according to the required standards
  • Monitoring and controlling the services provided, including cleaning, maintenance and security, while providing pro-active advice relating to future investment in the properties to maintain high occupational standards and the prestige of the address. Reports to be delivered include: Advising the REIT Manager on value maximization strategies for the portfolio
  • Preparation of monthly, quarterly, semi-annual and annual management reports
  • Preparation of budgets and forecasts – annual, quarterly, operating and capital budgets, preparation of quarterly financial results and reporting on spend against budget
  • Timely and accurate financial reporting to both tenants and REIT Manager
  • Producing clear statements to both REIT Manager and tenants

News & Updates

  • Real estate investment treads in profit announcement

    24.03.2017, NTV

    The Stanlib Fahari Real Estate Investment Trust has a posted a return of Ksh106 million for its first13 months of operations...

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  • Stanlib Fahari-Reit post Ksh108M

    24.03.2017, K24

    Stanlib Fahari-Reit has posted Ksh108M net profit for the year that ended in December 2016...

    View

  • Stanlib Fahari records 1.2M dollars in earning

    24.03.2017, CNBC Africa

    Nairobi listed Stanlib Fahari I-Reit has posted 1.2 million dollars in earnings for the full year to December 2016, the profit was boosted by 3.3 million dollars in revenues...

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  • Stanlib Fahari I-REIT post Ksh 106 million net profit

    24.03.2017, Classic 105

    Kenya's first real estate trust fund,Stanlib Fahari I-REIT has recorded Sh106 million in net profit for the year ended 2016...

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  • Stanlib Fahari I-REI post Ksh 108 million net profit

    24.03.2017, Capital FM

    Kenya's first real estate trust fund,Stanlib Fahari I-REIT has recorded Sh108 million in net profit for the year ended 2016...

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  • Faharl I-REIT posts Sh106m net profit in 13 months following 2015 NSE listing

    25.03.2017, The Star

    Stanllb- owned Fahari I- Reit reported on Friday net profit for 13 months through December 2016 reached Sh106 million following Its listing on the Nairobi Securities Exchange In November 2015...

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  • Fahari real estate fund plans to raise Sh9bn in cash call

    27.03.2017, Business Daily

    Real estate fund Stanlib Fahari I-Reit plans to raise Sh9 billion later this year from current and new investors to fund the purchase of more propertie...

    Full Story

  • Stanlib Fahari records 1.2M dollars in earnings

    24.03.2017, CNBC

    Nairobi listed Stanlib Fahari I-Reit has posted 1.2 million dollars in earnings for the full year to December 2016, the profit was boosted by 3.3 million dollars in revenues...

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Issued press releases