Sturgis

Video: Sturgis Multipurpose Tower & Mall Investment Overview

 

The Sturgis Multipurpose Twin & Mall

The Sturgis Multipurpose Twin & Mall is being developed by Sturgis Investment Limited which was founded by Dr Omo Fatiregun and operated by professionals in the Sturgis Group.

The proposed plaza has been described as a masterpiece and includes features such as:

  • A hi-tech auto-center
  • Car park on multiple floors
  • Multiple floors for a Cinema
  • Floors for shopping & retail
  • Food court floor for restaurants and bars
  • Offices space
  • Co-working space floor

Other features include a solar generation panels on the roof as well as back-up generators, escalators, lifts and central air-conditioning.

The twin towers are connected on several floors through a glass see-through walkway on the automart floors, car park and cinema floors.

The iconic twin towers will have a total lettable area of 37,494 square meters and will be erected in the prime location of Lekki, Lagos in Nigeria.

Nigeria is Africa’s largest economy, with a population of 180 million people living in the country and an estimated 20 million in Diaspora. With a rapidly growing middle class and rising incomes, economists project that Nigeria is expected to be 14th largest economy in the world by year-2030.

Lagos State is Nigeria’s smallest state by land size but is the largest by population with over 20 million people living in this city-state. One of the reasons adduced for the high population density of Lagos is that it’s a port city.

With a GDP of over $70 billion, Lagos State’s GDP is larger than almost half of the countries in Europe (Source: international Monetary Fund).

There is huge demand for automarts, commercial car parks, cinemas, retail outlets, restaurants and bars, co-working spaces and office locations and the Sturgis multipurpose twin tower plaza fills a need in the local economy.

An investment in the proposed Sturgis multipurpose twin tower plaza is an excellent investment opportunity for foreign individual and institutional investors to diversify & grow their portfolio.

Investing in African real estate is considered risky but it offers stable returns than those found in many western markets.

To invest in the Sturgis twin Tower Multipurpose Plaza or to obtain more information, sign up on the Afriscaper platform and view full details of this investment opportunity.

Project Partners

Developer: Sturgis Investment Limited Architects: Intermol Architects
Builder: Zhongtian Construction Company Arranger: Omololu Capital HK (Parent Company of Afriscaper)
Senior Debt: US Export-Import Bank Quantity Surveyors: Akangbe & Associates.
Proposed Anchor Tenants: Shoprite (Retail), FilmHouse Cinema (Cinema), Opportunity Hub (Co-Working Space), Rhapsody Lounge (Bar), The Place (Food) Proposed Property Manager: Broll Property Managers ( A member of the CBRE Group)

Sturgis Multipurpose Tower & Mall

Sturgis Investments Limited (“Sturgis” or the “Sponsor”) is offering investors the opportunity to purchase equity & debt rights in a well-sited proposed 10-story office tower & vertical mall located in the prime real estate location of Lekki in Lagos, Nigeria.

Download Investor Summary

 

Transaction Dynamics
Developer/Manager Sturgis Investment Limited
Estimated Project Cost $45,000,000
Senior Debt (Obtained) $31,500,000
Leverage Up to 70%
Developer’s Equity $2,500,000
Targeted New Equity $10m with stretch goal up to $20m
Estimated Return 300% (3 Year ARR)

Minimum Investment

(Institutional Investors)

$100,000
Minimum Investment (Individual Investors) $2,500

Capital At Risk

Investments in real estate involve a degree of risk and investors should not invest any funds in this issue unless they can afford to take the risk of losing their investment. Investors are advised to consider risk factors carefully before taking an investment decision. For taking an investment decision, investors must rely on their own examination of the project including the risks involved.

This overview does not constitute an offer to sell you a security, or a solicitation of an offer by you to purchase a security. No offer to sell or solicitation of an offer to buy may be made prior to the delivery by the project sponsor of definitive documentation relating to a proposed investment (collectively, “offering materials”),

The overview is also summary in nature, and does not purport to be complete. All offering materials have been prepared by the project sponsor and have been offered by Afriscaper after due dilligence has been carried out. Afriscaper does not assume any responsibility for the accuracy and completeness of any offering materials or the related overview. All offers and sales that are made through the Afriscaper portal have not been registered or qualified under any state securities laws. Neither the Securities and Exchange Commission nor any state regulatory authority has reviewed, approved or disapproved of any offers or sales, the related offering materials, or the terms of any offering, or determined whether the offering materials are truthful or complete.

About Afriscaper

Afriscaper is an Africa-focused real estate & infrastructure funding platform. It simplifies investing in African projects by offering projects to investors that have gone through our unmatched cutting edge 350-step pre-vetting & due diligence reviews in partnership with PWC, one of the world’s global professional service firms.

 

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