Vantage Capital has provided R82-million (US$5-million) of mezzanine debt funding for the development of the Alleyroads Group housing development of Kayalane Heights, which is located in Limpopo (South Africa). Alleyroads Group is a South African property development company led by Ivan Pretorius and since its establishment in 2009, it has built more than 3,000 residences across South Africa. The current rate of affordable housing development is less than the population growth rates in many regions within South Africa. Located in the heart of Lebowakgomo (Limpopo), the Kayalane Heights precinct will offer in excess of 256 attractive two-bedroom apartments, 24-hour security controlled access, covered parking and a beautifully landscaped common area for leisure activities at an affordable price.
Vantage Capital is well-positioned as Africa’s leading Mezz financier, capitalising on its strong position in the South African mezzanine market and building a portfolio of income generating mezzanine assets in South Africa and in the rest of Africa. Vantage Capital raised US$150 million in Mezz Fund 1, US$240million in Mezz Fund 2 and US$280 million in Mezz Fund 3. Outside of South Africa, Vantage has invested in eleven transactions across Morocco, Côte d’Ivoire, Ghana, Nigeria, Uganda, Kenya, Mauritius, Namibia and Botswana.