Eris Student Accomdation Newco

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 The proposed IFC investment is a ZAR150million equity investment in Momentum Student Accommodation Impact Fund Proprietary Limited  (‘The Company” or “MSAIF”), an open-ended investment company developing and operating affordable, purpose-built student accommodation (“PBSA”) in South Africa (SA). MSAIF is registered as a private limited liability company and is managed by Eris Property Group, a leading property developer and real estate fund manager in SA.  MSAIF’s business model is to provide serviced safe, secure, affordable purpose-built student accommodation that is located close to Public- universities and/or Technical Vocational Education and Training (TVET’s) (which will be marketed under the “Rise Living” brand). MSAIF has developed one asset named “Units on Park” in Hatfield Pretoria; a 998 bed development. Concurrently, MSAIF is pursuing a pipeline of additional development and investment opportunities and expects to grow to 10/12-asset portfolio over the next 5 years. The proposed IFC financing package is to support MSAIF’s growth plans. It is anticipated that, MSAIF will reach an optimal size for an Initial Public Offering (IPO) and listing as a Real Estate Investment Trust (REIT)on a major stock exchange within the next 5-7 years.