TPL REIT Fund I completes first funding round, receives final tranche of Rs3.4bn

MG News | December 28, 2023 at 03:15 PM GMT+05:00

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December 28, 2023 (MLN): TPL REIT Fund I (Fund) managed by TPL REIT Management Company Limited (TPL RMC), has successfully completed its first funding round, and has received the disbursement of the third and final tranche worth Rs3.375 billion from its anchor investors, the company's filing on the PSX showed today.

Post disbursement, TPL Properties (strategic investor) is holding 38.7% while other investors will be holding 61.3% in the Fund.

TPL RMC provides REIT management services in Pakistan and is a wholly owned subsidiary of the TPLP, established to capitalize on the Real Estate development and management expertise of its parent company through launching Sustainable Development Impact REIT Funds across diverse real estate asset classes in Pakistan.

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