Femab Announces the Closing of the Financing With the New York Giant

LAGOS, Nigeria, Sept. 12, 2017 -- Femab Properties Limited, a Nigerian based property development and investment company, is pleased to announce that today it has finally signed the financing agreement and closed the $500 million Milost financing. The financing was provided under the Mesa Fund 1, a global opportunity fund that has 10 year term and is managed by Milost Global Inc.

The financing will open doors for the company through its Holdco to trade on a US Stock Exchange. Femab will also be appointing an in-house Advisory Firm to guide it towards the Pre-IPO on the New York Stock Exchange. Femab will also be appointing one of the top 4 audit houses to assist with audits as the company prepares for the IPO. Milost has also committed to funding the entire IPO expenses.

President & CEO of Femab Properties Limited, Abiodun Aguda, stated, "The closure of the financing agreement with Milost Global is a significant event that signals the industry disrupting transformation of Femab Properties Limited from a local participant to an industry leading global player in real estate development investments. We are indeed grateful to Milost Global, and by extension the Nigerian consulting firm that brokered the deal, Mayo BV and its CEO Mr Femi Bello for believing in and sharing our corporate vision of blazing a new trail in housing and hostel delivery in Nigerian Universities and other opportunities in sub-Saharan Africa."

Adeyemi Gafar, the CFO of Femab Properties Limited, said, "With the closing of this funding agreement, Femab Properties Limited is positively positioned to take a huge slice of the annual infrastructure spend of the sub-Sahara African region which is estimated to climax at $180 billion by 2025. The funding will not only act as a veritable enabler for providing cost-efficient and timely delivery of housing infrastructure because of access to economies of scale and technologies in materials sourcing and deployment but also guarantee attractive returns to investments of our present and future stakeholders.”

Lulu Letlape, the President of Milost Global Africa based in Johannesburg, also stated, "This deal between Milost and Femab will take the property market in Africa to the next level and will enable Milost to contribute to the reduction of the well documented infrastructure needs in Africa, the alleviation of overcrowding and informal settlements and will generate much needed jobs in the region.”

Senior Partner, President & COO of Milost Global Inc. based in New York City, also had this to say: “Despite many years of economic recession, high interest rates, high inflation, rising unemployment, as well as worsening insurgencies, we at Milost takes a contrarian view and approach toward the Nigerian economy and specifically the real estate market. We believe the market has bottomed out and with the newly democratic elected government, Nigeria being the most populous and largest economy in Africa, beating South Africa, is now poised for positive growth and that auger well for our investment and our partnership with Femab Properties Limited.”

About Femab Properties Limited

FEMAB PROPERTIES LIMITED is a limited liability company incorporated in the year 2000 under the Companies Act of 1990 with RC Number 39118. The company is into real estate consultancy such as Civil & Engineering Construction, Property Management, Property Sales, Letting and Estate Development. Femab has had an impressive performance and great track record in the delivery of state of the art estates in Lagos state the economic hub of Nigeria and West Africa. The Company has pioneered delivery of efficient and functional houses to teeming Nigerians in the last 22 years of existence and ready to creatively and innovatively raise the bar with MILOST Global Investment. www.femabproperties.com

About Milost Global Inc

Milost Global Inc is an American Private Equity firm that is headquartered in New York City, with more than $25 billion in committed capital. Milost is at the intersection of creative investing and value creation. Milost is also a provider of alternative capital, mezzanine finance, and alternative lending to a broad range of industries across the globe including Technology, Transport, Cannabis, Education, Distribution, Mining, Oil & Gas, Financial Services, Healthcare, Pharmaceuticals, Real Estate, Alternative Energy and Infrastructure Development. www.milostglobal.com

 
For more information
Dr James S. Kuo
[email protected] 
Tel: +1-212-918-4792
Fax: +1-212-225-8246