<\/p>\n
Burgeoning logistics property and infrastructure giant, Newlyn Group, has secured a R5 billion financing deal with the Absa Corporate and Investment Banking (Absa CIB) unit, which is likely the biggest single funding deal of its kind of a private property company in South Africa.<\/p>\n
Newlyn, which is behind the development of the R3.4 billion Newlyn PX Terminal near the Port of Durban, together with Absa CIB, revealed the deal in a statement on Wednesday, saying it will power the group\u2019s national development pipeline, enabling growth at scale.<\/p>\n
Read: Durban Port\u2019s new terminal now open [April 2024]<\/p>\n
The new Newlyn PX Terminal was one of the projects highlighted at President Cyril Ramaphosa\u2019s SA Investment Conference a few years ago.<\/p>\n
Ramaphosa said the development represented a \u201cgood model of the public-private partnerships South Africa urgently needs to upgrade local port infrastructure\u201d when he officially opened the Newlyn PX Terminal in Durban in 2024.<\/p>\n
Absa said Newlyn is a leading South African ports logistics and infrastructure developer, adding that \u201cthe finance solution will fund Newlyn Group\u2019s delivery of infrastructure assets across key logistics corridors\u201d in the country.<\/p>\n
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\u201cThis innovative transaction with Newlyn Group reflects our ability to structure complex solutions and demonstrates the strength of Absa CIB\u2019s partnerships with key clients across the real estate sector,\u201d comments Somaya Joshua, Managing Executive for Real Estate at Absa CIB.<\/p>\n
\u201cNewlyn Group has established a three-decade track record of proven investment and development expertise in South Africa\u2019s specialist port logistics sector,\u201d the joint-statement noted.<\/p>\n
Its national portfolio of large-scale logistics parks and properties spans 32 assets and more than 1.3 million square metres of gross lettable area (GLA), and includes a 2 million square metres of landbank as well as 200\u00a0000m2 of developments currently under construction.<\/p>\n
\u201cWe are pleased to announce that Absa CIB has developed a bespoke real estate solution at favourable terms for Newlyn Group, unlocking liquidity to enable our growth at scale, while, at the same time, supporting our ongoing balance sheet strength,\u201d says Rajendra Balmakhun, founder and CEO of Newlyn Group.\u00a0<\/strong><\/p>\n According to the Durban-headquartered (Florida Road) group, it remains \u201ccommitted to a development pipeline of strategically located, high-performance facilities at South Africa\u2019s key coastal and inland logistics hubs\u201d.<\/p>\n Newlyn says: \u201cIts bespoke bulk cargo terminal developments are engineered to raise efficiency across the bulk logistics sector and are set to transform the country\u2019s port logistics landscape.\u201d<\/p>\n ADVERTISEMENT:<\/p>\n CONTINUE READING BELOW<\/p>\n<\/div>\n<\/div>\n While Newlyn is privately-held, it competes with the likes JSE-listed logistics property majors such Fortress Real Estate, Equites Property Fund, Collins Property, and other private and family-owned groups like Shree Property Holdings.<\/p>\n Read\/listen:<\/p>\n Fortress forecasts higher distribution as logistics portfolio fuels growth<\/p>\n SA shines for Equites Property Fund amid UK exit<\/p>\n Fortress won\u2019t be a Reit, for now \u2013 Brown<\/p>\n<\/p><\/div>\n #Logistics #giant #Newlyn #Group #massive #R5bn #backing #Absa #CIB<\/p>\n","protected":false},"excerpt":{"rendered":" Burgeoning logistics property and infrastructure giant, Newlyn Group, has secured a R5 billion financing deal with the Absa Corporate and Investment Banking (Absa CIB) unit, which is likely the biggest… <\/p>\n","protected":false},"author":1,"featured_media":11152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[495,4078,2835,5279,984,4497,2700,12755,12756],"class_list":["post-11151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing","tag-absa","tag-backing","tag-cib","tag-giant","tag-group","tag-logistics","tag-massive","tag-newlyn","tag-r5bn"],"_links":{"self":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/11151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11151"}],"version-history":[{"count":0,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/posts\/11151\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=\/wp\/v2\/media\/11152"}],"wp:attachment":[{"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fintechpulse8.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}