Loan agreements in excess of R 100 million were concluded between Propertuity and Nedbank Corporate &Property Finance assisting in the acquisition of a number of new properties in the Maboneng Precinct, as well as financing a number of completed developments.
The TUHF Group of Companies drives inner city investment by helping potential investors become property entrepreneurs, providing loans to buy or improve residential properties in South Africa’s inner city areas. TUHF focuses on projects that promote urban regeneration and Black Economic Empowerment, giving preference to projects that have been properly researched and are deemed to be sustainable business ventures.
In November 2013, an agreement between TUHF (Pty) Ltd and Futuregrowth Asset Management and Propertuity saw the two companies agree to provide a joint funding facility of R 200m (30% provided by TUHF) for further development of The Maboneng Precinct in Johannesburg. TUHF’s on-the-ground management and expertise and skills to oversee the various refurbishments and upgrades over the term of funding are a key aspect of this partnership. The loan finance will yield a risk adjusted return and is specifically structured so that the credit risk and performance of the investment is carefully monitored.
Futuregrowth is a specialist investment company which manages fixed income and developmental investments in a way that sustainably enriches the lives of all. With around R128 billion of assets under management, they are dedicated to the development and empowerment of South Africa and its people, with many of investment offerings geared towards making a meaningful difference. With this in mind, the company continually strives to identify opportunities that will enrich the lives of our people through delivering economic and social returns that really matter.
In November 2013, an agreement between TUHF (Pty) Ltd and Futuregrowth Asset Management and Propertuity saw the two companies agree to provide a joint funding facility of R 200m for further development of The Maboneng Precinct in Johannesburg. 70% of the funding will be provided by Futuregrowth.