DOB Equity has become the latest investor to back Africa Logistics Properties, a developer and manager of Grade A warehousing in Nairobi. The Dutch family office is investing $4 million in the firm for an undisclosed stake.
The fresh capital will be used to support Africa Logistic Properties (ALP) warehouse development plans as well as its expansion plans across the broader East Africa region. In early March, a consortium of investors made up of UK development finance institution CDC, the IFC, Maris Capital and Mbuyu Capital Partners jointly invested $48 million in ALP which was recently set up to take advantage of the opportunity provided by the lack of quality, international-standard warehousing space in the region.
According to Saskia van der Mast, the Investment Manager who led the deal for DOB Equity, the investment opportunity was attractive due to Kenya’s ideal location “…as an entry point and hub for eastern and central Africa to benefit from the region’s industrialization, growing trade and expanding consumer markets.” In addition, the experienced team led by CEO Toby Selman will, its felt, be able to make the most of the company’s market opportunity.
Dentons provided ALP with legal advice on the transaction. DOB Equity was advised by Norton Rose Fulbright with support from Walter Kontos and BLC Robert & Associates.