Fortunate Kraai
Durban (ZAF)
Role(s):
Other
Ekhaya Properties
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Startup
Location:
Durban
Industry:
Real Estate
Year Founded:
2014
Number Employees:
1-10 people
Business Stage:
Growth (profitable)
Entity Type:
Incorporated Outside United States
Description:
I am an entrepreneur who would like to acquire commercial / residential property in South Africa.
The property that I would like to purchase is located on the Durban beachfront. It was previously used as a hotel, but is now contracted to a local University, to provide student housing. The University pays for their students' accommodation. The building has 188 rooms, 55 parking bays, a conference facility, a fully-fitted kitchen and a dining area. There are also fully-let shops on the ground floor. The building is on the market for $ 5 600 000 (five million six hundred thousand U.S.D.). It makes a net profit of $63 600 ( sixty three thousand six hundred U.S.D.). There are financials as well as bank statements as proof of income and profitability. I am looking for an investor who can fully-fund the purchase, be it debt or equity funding.