Broll acquisition raises Centum stake in real estate- Centum has increased its real-estate investment with the acquisition of 30% stake in Broll, a property management firm. Although the value of the transaction has not been disclosed, Centum will increase up its real-estate revenue streams through management fees. The two firms already have a working relationship with Broll which is contracted as the property manager for the Two Rivers mixed development that is coming up in Runda area, Nairobi. Broll set up its Kenyan operation in 2013 and has already received contracts to manage shopping malls in Nairobi and other counties. It will also manage Garden City that on completion will be the largest shopping mall in East and Central Africa, The Hub in Karen, Buffalo Mall (Naivasha, Nakuru County) and Tuffoam Mall in Kisumu County. Centum closed at KES 57.50 yesterday. (Source: Business Daily)
Posted on: Fri, 12 Sep 2014 07:12:55 +0000