
Vantage Capital provides R82.0 million of funding for Alleyroads, one of South Africa’s leading affordable housing developers
JOHANNESBURG, South Africa, July 23, 2020/ -- Vantage Capital (https://www.VantageCapital.co.za/), Africa’s largest mezzanine fund manager, announced today that it has provided R82 million of mezzanine funding for the development of Kayalane Heights, a first-of-its-kind affordable housing development located in Lebowakgomo, Limpopo. The promoter of the transaction is the Alleyroads Group, a leading South African black-owned property development company led by Ivan Pretorius. Since its inception in 2009, Alleyroads has built more than 3,000 residences across South Africa including over 1,500 affordable homes.
The current housing shortage in South Africa is extensive, the government estimates that there is a shortfall of circa 2 million homes. A number of initiatives have been implemente...