Norrenberger Investment and Capital Management Limited, a financial services company in Nigeria, has partnered with Rekit Financial Advisors Limited (REKIT), a subsidiary of Modd Management Company Limited, which is a Family Office, to provide innovative structured finance debt instrument for real estate development in the Lekki corridor of Lagos state.
The strategic collaboration will finance new developments in the Victoria Island, Ikoyi, and the Lekki corridor of Lagos State with up to N5 billion over a five-year year period. The instrument has been designed for investors who seek higher returns on real estate investments.
Speaking on the partnership, Managing Director/CEO, Norrenberger, Mr Tony Edeh, said: “As the real estate market in Nigeria evolves, new opportunities for growth and collaboration emerge. “We have identified an opportunity with our partners at REKIT, and we are excited to provide the support they need to drive value and explore new opportunities in this regard.
“With the dearth of conventional financing instruments, alternative finance is the way to go and we are committed to inventing and innovating through complexities.”
Speaking in the same vein, Director, REKIT and CEO, MODD Management Company Limited, Mrs. Chioma Okigbo, said: “We are grateful for the insight, foresight, and commitment of Norrenberger to working on this dream with us through providing effective and excellent fund management services towards the attainment of this goal.
“Having carefully designed this project together, we are certain that it will deliver value to investors and are excitedly looking forward to future collaborations.”
According to them, the project aligns with the Securities & Exchange Commission (SEC)’s recent support for alternative finance solutions to deepen the capital market by providing alternative sources of funding and investment.
REKIT Financial Advisors Limited is a subsidiary of MODD Management Company Limited (MODD) and was set up in 2020 to provide an independent and objective platform to support individuals achieve their investment and life goals.
On the other hand, Norrenberger is an integrated financial services group which provides individuals and institutions with a comprehensive range of financial products and services including Investment banking, asset management, venture capital, financial advisory, structured finance and securities trading; tailored to meet and exceed our client needs and expectations.