Deal Snapshot
GRIT REAL ESTATE ACQUIRES MOROCCAN REIT
Friday 14 February 2020

Mauritius-based property investor Grit Real Estate Income Group Ltd. (JSE: GTR) has entered into a non-binding, conditional Memorandum of Agreement (MoA) with inter alia, Société Soprima and Residence Massirat Al Houda, to acquire an interest in Organisme de Placement Collectif Immobilier, the company said.
Organisme de Placement Collectif Immobilier vehicle promulgated under recent amendments to Moroccan legislation, which is a vehicle in Morocco equivalent to a real estate investment trust.


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Details
Date Published: 14/02/2020
Target: Organisme de Placement Collectif Immobilier/undisclosed stake
Country: Morocco
Sector: Construction/Real Estate
Type: Stakebuilding
Financing:
Status: Agreed
Vendor: Soci, été Soprima and Residence Massirat Al Houda
Buyer: Grit Real Estate Income Group
Comment:
Terms of the deal were not disclosed

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