2 October 2015

FirstContinent (Kigali)

Africa: Xterra Capital Advisors Completes the Assembly of Pan African Real Estate Investments

London — Xterra Capital Advisors, the Mauritius based Real Estate Fund Management company promoting the upcoming Xterra Property Development Fund, has entered into a partnership agreement with Terrestria Real Estate Partners, a subsidiary of Frontier Capital Nigeria (TREP), BGI Ghana, subsidiary of a US based retail development firm (BGI), and Best Western BizTravel Lodges of South Africa (BWBTH).

Under the terms of the agreement, the development companies will participate in the upcoming listing of the Fund in the 4th quarter 2015 on the Mauritian Stock Exchange.

These agreements come on the back of partnerships established with AMS Properties and Hass Consult of Kenya and Hotel Vision, Park Inn in Rwanda in July 2015. With the latest round of partnerships, Xterra Property Development Fund stands as an Africa balanced and diversified Property Fund in terms of geography, asset class and maturity of assets.

The recently added West and Southern Africa portfolio includes large scale mixed use developments, retail parks, new and income earning, commercial properties and upscale hospitality properties. The total value of Equity Capital to be raised by the Fund is $300 million with a further $300 million Debt facility.

Indeed the Fund now plan to invest [28%] of its capital in Nigeria, [19%] in Ghana, [34%] in Kenya, [7%] in Rwanda [4%] in Uganda and [8%] in South Africa. The Fund will also be exposed to all Real Estate Asset classes; Industrial [3%] Office [19 %], Hospitality [28%], Retail [50%].
XPDF will offer a mix of high return greenfield developments [85%] and yielding properties [15%].

" With the successful completion of such a portfolio, the Fund is poised to attract international investors seeking exposure to African Real Estate and its high returns, while achieving a country and asset class diversification." said Anthony Bonnett, Chief Operating Officer of Xterra Capital Advisors.

"When we embarked on the project of building one of Africa's first Pan African Real Estate Development Funds for Africa, we made the conscious decision to align the Fund exclusively with the best development firms on the continent. We also made the decision to work with Developers from all key regions of Africa in order to benefit from a strong local knowledge and experience. The agreements with 5 of Africa's best development companies is the best illustration of the execution of our strategy" stated Wagane Diouf, CEO of Xterra Capital Advisors.

"Fund Mobilization is key to quick turnaround of projects in our region. We have been looking for a partner who has the experience and right skill sets to join force with in various real estates projects in our pipeline. The team at Xterra Capital fits that bill and we are excited to be partnering with them" said Nima Yussuf of FirstContinent Group (www.firstcontinentgroup.com), a founding shareholder in the Fund Management Company.

"Africa is changing in a way that matches the acceleration of technological advances in communication and airline travel observed globally. Businesses are innovating in line with this growth and people's lifestyles are changing, driving the need for a new generation of business and lifestyle facilities.

Currently the South African market is predominantly limited to single-use or conventional retail properties. This creates an immense opportunity to satisfy the present and future real estate needs of the twenty first century.

Xterra Capital, as the first Pan African Real Estate Fund, is at the forefront of understanding the changing economies and developmental needs of each region of the African continent. The Xterra Team, as leaders in their field, are the ideal partners for the expansion of our mixed-use lifestyle properties into the South African market." - John J. Belak Executive Director, BWBTH

About Xterra Capital Advisors (www.xterracapital.com):

Xterra Capital Advisors is a Licensed Fund Management Advisory Company based in Mauritius. The objective of the company is to raise equity and debt capital for commercial developments in Africa.
Xterra Capital Advisors is in the process of launching one of the first Pan African Listed Property Development Funds in partnership with Africa's best Development Companies.
The Fund, due to list Q4, 2015, will mobilize $300 million in equity capital for investment in pre-identified and vetted development projects across the continent. The Fund will also secure debt facilities from Global financial institutions in order to finance the projects.
Xterra Capital Advisors is offering selected African Developers an opportunity to raise Equity Funding for their flagship projects via the listing of Xterra Property Development Fund on the Mauritius Stock Exchange. In addition to including commercial and retail projects in the Fund's portfolio, Development Partners are offered Preference shares in the Fund Management Company.

About TREP – (www.frontiercapital.com.ng)

Terrestria Real Estate Partners (TREP) is a specialist real estate company spun out of Frontier Capital Limited to undertake principal real estate development transactions as well as assist other project owners deliver real estate projects as Development Advisers. As Development Managers, TREP supports a wide range of clients in achieving their development objectives by working with them along the entire real estate development value chain. As developers, TREP actively seeks opportunities to participate in the development or redevelopment of strategically located real estate assets in attractive markets.

About BGI Ghana – (www.bgiproperties.com)
Attracted to the unprecedented urbanization and economic growth in Ghana and Nigeria, BG International LLC (BGI) and its affiliate, BGIGH Ghana Ltd, (BGIGH) were established in 2011 and 2012 to develop and operate modern shopping centres and mixed-use projects in these emerging markets.
As the lone U.S. based real estate firm currently developing commercial properties in West Africa and with offices in Accra, Ghana; BGIGH brings a level of development expertise and access to capital necessary to complete successful projects.

About BWBTH – (www.bestwestern.com)
Best Western, BizTravel Holdings (BWBTH) was born out of a rapidly growing gap in the Southern African market for specialized business and lifestyle facilities, which emerges from the international trend of a fast changing work-lifestyle dynamic.
The strength of the BWBTH model lies in its ability to package lodging, commercial office, leisure, dining and fitness facilities into one property, across multiple locations, as a single consolidated user experience at value-driven rates.
All BWBTH Properties are branded Best Western and feature 6 dedicated Tenants who's branding has been aligned with the BWBTH brand and Best Western Standards. Operationally, Tenants are centrally integrated to offer clientele a seamless user experience and consolidated offering.
The mixed-use nature of the BWBTH Real Estate is supported by Tenants taking long-term residency within the properties. The tenant-mix comprised of Residential for Hotel, Commercial and Retail sections provides a uniquely balanced return on the Real Estate Asset.

Contacts:

Wagane Diouf, CEO, Xterra Capital Advisors: wagane@xterracapital.com , +27 76 244 25 11
Anthony Bonnett, COO, Xterra Capital Advisors: anthony@xterracapital.com , +447468421103
Sanjiv Mihdidin, CIO, Xterra Capital Advisors: sanjiv@xterrcapital.com , +23052350990

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