Vantage Capital backs affordable housing in Limpopo

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Vantage Capital announced the latest investment for the $288 million Vantage Mezzanine Fund III last week, providing a mezzanine loan and making a preference share investment in Alleyroads Group, a black-owned property development company. The R82 million (or $4.9 million) financing will be used to complete the development of Kayalane Heights, Alleyroads’ affordable housing project in Lebowakgomo, situated in South Africa’s northernmost province, Limpopo.

According to Vantage Capital’s managing partner, Warren van der Merwe, Alleyroads’ strong management team, their strategic vision and successful track record of execution were all key considerations in Vantage’s decision to make the investment. Since its launch 12 years ago, the firm has built over 3,000 residences across South Africa, half of which fall into the affordable home category.

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