Femab Properties Limited, a Lagos based property development and investment company, announced that it has signed a financing term sheet of $500 million with Milost Global Inc, a New York based Private Equity firm. This is a working capital and development facility for the company which is being provided as a combo of Debt and Equity, of which $200 million will be an equity facility and $300 million will be debt facility. Both the company and the investor are expected to sign a commitment letter by August 30. This is provided for Femab to focus on the development of its current project, which Milost found very attractive.

‘’This is the genesis of our investment in Nigeria, Africa’s number one fastest growing economies. This being the first transaction for Milost Global in Nigeria, we look forward to ensuring that it becomes a foundation from which our Nigerian growth testament will be written and more importantly, we intend to ensure that Femab is well supported in its plans to becoming the biggest Real Estate Development and Investment Company in West Africa by 2025,” stated Egerton Forster, CEO of Milost Global.

The Chief Executive Officer of Femab Properties Limited, Abiodun Aguda, stated that the Milost Global facility will provide the springboard from which the company will launch its lofty vision of expanding its real estate footprint outside of Nigeria in the provision of environmentally sustainable, affordable mass housing for the teeming population of Nigerians whilst realizing its focal strategy of being a true pan African real estate development firm. While thanking Milost Global Inc for this great partnership, he equally expressed his gratitude to MAYO BV, the Financial Consulting outfit that assisted us in packaging the project.