Introduction
Revitus REIT is a duly incorporated and licensed Real Estate Investment Trust (REIT) whose Units are to be listed on the ZSE. The REIT has been seeded with legacy property assets from the NRZ Contributory Pension Fund’s portfolio, in line with the Finance (No. 2) Act of 2020’s qualifying requirement for tax exemption status to REITs. The REIT will strategically acquire distressed commercial properties in urban localities with a view to re-purposing them into modern green buildings with greater commercial value and rental earning potential.
The REIT portfolio will comprise commercial properties including CBD office and retail, office parks, and selected industrial properties with flexible tenancy and potential for being reconfigured, remodelled, and turned around. A portion of the Fund is reserved as cash or near-cash assets to cater for renovations and other liquidity requirements and will form part of the total investment portfolio.
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