James Emejo in Abuja

Lagos-based investment firm, Yatsar Capital Partners, has announced the first close of the Yatsar Real Estate Private Equity (YREPE) Fund at N31 billion ($20 million).

This maiden fund had targeted N55 billion to be invested in grade-A income generating assets, including  demand-driven commercial development opportunities.

In a statement, Chief Executive, Yatsar Capital Partners, Obi Nwogugu, said, “We are excited to reach our first close and deeply grateful to our investors who have supported us in this journey.

“We are thankful for the partnership with BAT Nigeria in closing our first investment through the Rising Sun Building transaction.

“We look forward to playing a key role in channeling private capital into the compelling opportunities we see in the Nigerian market.”

 The firm prioritises a proactive approach to real estate investment, focusing on making informed decisions based on foresight and extensive experience to generate future value in properties.

YREPE is backed by Nigerian pension funds and insurance companies who are seeking a disciplined and low-risk approach to investing in the real estate asset class.

Along with the first close, YREPE also made its first investment in the sale and leaseback of the Rising Sun building, a class-A mixed use asset on Alfred Rewane Road in Lagos, Nigeria.

The building, which is located on the most sought-after office stretch in Nigeria, includes five floors of grade-A commercial office space, and seven floors of residential accommodation, all occupied by corporate tenants, the statement added.

​