LAGOS, Nigeria, Sept. 27, 2017 (GLOBE NEWSWIRE) -- Primewaterview Limited is pleased to announce that it has signed a binding commitment letter with Milost Global Inc under the Mesa Fund 1, a global opportunity fund that is managed by Milost global Inc. This is for a facility of up to $2 billion to fund the development of the current projects of PrimewaterView and also for acquisition of other vertical opportunities that would help PrimewaterView to swiftly integrate. The commitment is made up of $1.3 billion in equity and $700 million in debt capital.
HRH Prince Adetunji Ogunwusi, Founder & CEO of Primewaterview Limited, stated “Building communities in picturesque setting where luxury meets convenience, where people of different cultures and social setting meet and dwell together, where children of neighbours can mingle and play together in serene environments which foster lifelong friendships, and making the home a part of the community and the community a part of the home where residents are their brothers' keepers, where communal living and brotherly love transcends all level of social strata and differences.”
Mr. Samuel Alabi (Chief Operating Officer of Primewaterview Limited) stated “This is great news to the Real Estate industry in Nigeria in particular and Africa in general as this massive investment in Primewaterview Limited by Milost Global will go a long way in changing the face of Housing Development in various dimensions and this would bring about a lot of benefits to the ever growing population by bridging the Housing deficit currently being experienced in Nigeria. This partnership has further demonstrated that Nigeria is still an Investment destination despite the fact that the economy is just coming out of recession.
Mandla J. Gwadiso, Managing Partner & CEO of Milost Global Inc, also had this to say, “PrimewaterView is the cream of the Nigerian Real Estate market and for us as Milost, this opportunity serves as a strong platform from which we seek to build a solid foundation to what we believe will in one way or some other, expedite the process of meeting the huge demand of housing in Nigeria. We aim to pull out all our guns to help meet this growing demand in Nigeria, we will achieve this by funding Nigerian developers with compelling such PrimewaterView’s. We truly commend HRH Prince Adetunji for the longstanding commitment in the development of the Nigerian economy and the betterment of the lives of all Nigerian citizens by providing them with places they can call home.”
PrimewaterView Limited will be seeking to conduct a backdoor IPO in the US, a process which will help the Company become a publicly traded company before Christmas this year. Post-closing, the Prince will be traveling to New York with his team for a Roadshow as the Company will be preparing for a Reverse Listing in the US. Working with Milost in this, Milost has agreed to fund the expenses for IPO and get the company finally on traded on the New York Stock Exchange.
About PrimewaterView Limited
Primewaterview Limited is a wholly owned Nigerian Company incorporated in 2005 and a subsidiary of Primewaterview Holdings Limited. The Company is a property and infrastructure development company, which uses its local knowledge and skills combined with its global expertise, to design and build residential communities of high international standard. Its passion to provide excellent housing shelter has driven it to the pinnacle of Real Estate in Nigeria and Africa. Its track record includes the development of various residential and commercial properties in highbrow areas in Lagos and other parts of Nigeria.
To date, Primewaterview limited has delivered close to 1,000 homes in Nigeria. In line with its goal to be one of the top Real Estate and infrastructure Company in Africa, the Company is planning to construct hotels, office complexes, shopping malls and business parks in Lagos, Abuja, Africa and other parts of the world.
Our Board of Directors, together with the Management team is a strong, balanced blend of Industry & Professional leaders whose exceptional knowledge and experience guides and supports the delivery of long-term value to the Company.
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
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