Maia Capital backs student housing deal in South Africa
The Maia Debt Impact Fund I has provided mezzanine debt to Student Living Asset Management.
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Maia Capital Partners, through its Maia Debt Impact Fund I, has provided mezzanine debt to Student Living Asset Management (SLAM), a South African private equity fund focused on student accommodation. The financing supports SLAM’s acquisition of a 51% stake in Academia, a 1,026-bed residence in Stellenbosch.
Tshandu Ramusetheli, CEO at Maia Capital, remarked: “We are delighted to partner with SLAM on this landmark transaction, which reflects our commitment to addressing the pressing shortfall of student accommodation in South Africa.”
Ndumiso Davidson, CEO and co-founder at SLAM commented. “SLAM invests in assets of scale in defensive locations with a strong operating track record and demonstrable long term student demand. Academia exemplifies the profile of assets we seek to provide our investors. We are joining forces with the existing leadership team. There will be no disruption, no staff overhaul, and no operational restructuring. We’re here to build on a strong foundation, not to fix an operation that’s already working exceptionally well and has been the residence of choice in Stellenbosch for the last 25 years.”
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