Eppley Caribbean Property Fund Limited SCC-Value Fund (ECPF) has acquired two tenanted commercial properties in Trinidad and Tobago.
The first is located at 155-157 Tragarete Road, Port of Spain, and the other at 52 Valsayn Branch Road, Curepe. Both are former Massy Technologies facilities; however, that company changed hands after ECPF’s parent company, Musson Group, acquired the operations and rebranded it PBS Technology Group.
Managers of the fund did not, however, share the acquisition cost for the properties.
“The acquisition of these two fully tenanted office properties in Trinidad is directly in line with ECPF’s strategy to scale and diversify by geography and asset type,” Justin Nam, general manager of Eppley Limited and ECPF’s Fund Manager said in the company’s announcement.
“ECPF now owns and operates prime commercial real estate in three of the largest English-speaking countries in the Caribbean: Jamaica, Barbados and now Trinidad and Tobago,” he added.
“We continue to pursue opportunities throughout the region to add to our growing portfolio of industrial, retail, and commercial office assets”Justin Nam, general manager, Eppley Limited
At present, the fund’s portfolio includes 10 properties totalling in excess of 500,000 square feet since Eppley assumed management three years ago.
Moreover, it is among the largest listed real estate mutual fund in the Caribbean and trades on the Jamaica, Barbados, and Trinidad and Tobago stock exchanges.
Following the completion of these acquisitions, ECPF will own 16 buildings in all three countries comprising over 775,000 square feet.
The acquisitions will, therefore, not only increase ECPF’s regional footprint but also enhance the fund’s resilience through added diversification.
“We continue to pursue opportunities throughout the region to add to our growing portfolio of industrial, retail, and commercial office assets,” Nam pointed out.