Grit Real Estate Acquires Full Control of Orbit Africa Logistics

Grit Real Estate Income Group, a pan-African real estate firm, has announced the acquisition of a 30% stake in Orbit Africa Logistics, Nairobi, to gain full ownership. This move aligns with Grit's strategy to optimize its portfolio of non-core assets. The acquisition was initiated through its subsidiary, Bora Africa, for a nominal US$2.00.

Orbit Africa Logistics owns a vital logistics hub in Nairobi, serving significant East African trade routes. Despite challenges faced by its existing tenant, Orbit Products Africa Limited, Grit has enhanced the asset's resilience by revising tenancy profiles and reducing tenancy concentration risks.

This acquisition strengthens Grit's ability to manage capital allocation and asset performance, offering a clearer path to income stabilization and potential future sale on favorable terms, without new liabilities at the group level.