Sentinel Commercial Real Estate Investment Trust’s acquisition of the iconic One Airport Square (OAS) building in the Airport City enclave has won ‘Best Transaction of the Year’ at the recently ended 15th Africa Property Investment (API) Summit held in Cape Town, South Africa.
The award was won jointly by Sentinel and Nedbank Property Finance Africa, who provided the debt component for the acquisition in the forms of a term loan facility and a short-term bridge facility.
“We are honoured and humbled to have been recognised by players in the Africa real estate space and will like to thank the pension fund schemes and managers who provided the equity funding for the OAS acquisition. We are also happy to have jointly won the award with Nedbank, whose commitment to meeting our needs helped us to close on this groundbreaking transaction,” said Kisseih Antonio, CEO of Sentinel Asset Management, promoters and managers of the REIT.
“We look forward to leveraging on the OAS transaction to build a real estate portfolio to provide investors with an alternative asset class to provide an inflation hedge and help mitigate the overall risk of their respective portfolios.”
The API Summit, which is held annually, is the leading event and thought leadership platform in African real estate. The API Awards are peer-to-peer awards established to recognise and promote excellence in Africa’s rising real estate sector.
The awards, which are open to developers, professional teams, consultants, suppliers, and property owners involved in the African real estate industry, have become a critical benchmark for measuring success in the industry. To ensure impartiality and objectivity, the awards are judged by a panel of industry experts and thought leaders.
