Vantage Capital, Africa’s largest mezzanine fund manager has announced that it has provided $8 million of funding to Rosslyn Riviera Shopping Mall (“Rosslyn Riviera”), a convenient neighbourhood shopping mall in the upmarket suburb of Rosslyn/Runda in Nairobi that officially opened for trading in 2017. Sitting on 4.5 acres, Rosslyn Riviera combines the atmosphere of modern world class design against the backdrop of nature that takes advantage of a natural river on the property. It is spread over 18,211 sq.m of customer paradise offering visitors a selected blend of shopping, comprising of grocery, fashion, dining, health, wellness and entertainment establishments.
“Rosslyn Riviera is a state of the art shopping mall, developed to extremely high standards, with all the right characteristics we consider befitting the only modern neighbourhood mall in Kenya. It is located in a prime affluent area in the city of Nairobi,” said Mokgome Mogoba, Associate Partner at Vantage Capital.
“This investment in a leading retail property development in the heart of Nairobi demonstrates Vantage Capital’s commitment to Kenya and the East African region as a whole,” Mogoba added.
Warren van der Merwe, Chief Operating Officer of Vantage Capital noted that Kenya has always been of strategic importance for Vantage, hence the pleasure of the company at its first transaction in the country, especially its investment in a premium asset such as Rosslyn Riviera.
The investment is Vantage Capital’s 7th transaction in Fund III, a $280 million fund, with a 55% allocation to countries outside South Africa. This investment represents the 25th transaction executed by Vantage across three generations of mezzanine funds.