The Orbit Africa Facility, comprising a bulk-land, was acquired on a sale-and-leaseback basis, secured by a renewable 25-year us dollar denominated triple net lease underwritten by parent company guarantees for the duration of the lease term, as well as a rolling 3-year rental insurance policy furnished by the tenant for a 10-year term. 

The second phase of the transaction will now see a refurbishment of the existing 29,243m2 facility and the development of a further +14,000m2 of warehousing space on the acquired bulk-land to meet the tenant’s expansion needs.