ACORN STUDENT ACCOMMODATION D-REIT
By gundihill
Published On October 21, 2024
The close ended scheme was authorised as a REIT by the Capital Markets Authority on 8th December 2020 and
launched in February 2021. The ASA D-REIT later became listed on the Nairobi Securities Exchange under the
Unquoted Securities Platform (USP) on 12th May 2021. The ASA D-REIT trades as ASA D-REIT on the Nairobi
Securities Exchange (“NSE”).
The principal activities of the ASA D-REIT include but are not limited to:
• Investing directly in eligible real estate in accordance with the Regulations.
• Investing in eligible real estate assets through investment in an Investee LLP registered in Kenya
which directly owns the eligible real estate, and which is wholly beneficially owned and controlled by
the Trustee in its capacity as the trustee of the ASA D-REIT.
• Investing in eligible real estate assets through an investee trust in which the trustee of the ASA D-REIT
in its capacity as Trustee is the sole beneficiary and has absolute control of voting and right to appoint
and remove the Trustee of the investee trust.
• Investing in cash, deposits, bonds or securities and money market instruments.
• Investing in a wholly beneficially owned and controlled company which conducts real estate related
activities.
• Investing in income producing assets including shares in property companies incorporated in Kenya
"Acorn Student Accommodation D-REIT and I-Reit"
The ASA D-REIT was established to profitably originate, develop, stabilise, and exit purpose-built student
accommodation (PBSA) projects into the ASA I-REIT. The investment objectives of the ASA D-REIT are to
invest in assets that will enable the ASA D-REIT to:
• provide via development the most sought after, quality, and secure purpose-built student
accommodation within the Nairobi Metropolitan area (Nairobi County and its neighbouring counties);
and
• provide an attractive risk-adjusted return profile to investors generated from the realized sales of
developed and operational PBSA projects.