Kasada Money Management, an unbiased expenditure platform dedicated to hospitality in Sub-Sharan Africa, has obtained the iconic 5-star waterfront retreat, Cape Grace Resort in Cape City, South Africa.
Situated in the Victoria & Alfred Waterfront on the Atlantic shore, Cape Grace Resort originally opened in 1996 and is titled one particular of the continent’s best luxury motels. With Kasada’s awareness and expertise, the corporation will be renovating the newly obtained asset in hopes of getting the EDGE eco-friendly-setting up certification whilst maintaining the legacy, top quality and essence of the historic residence.
This new addition to Kasada’s expanding resort portfolio marks its entry into the South African hospitality market place and the continued fulfilment of its tactic to unfold its footprint in Sub-Saharan Africa.
“We are delighted to have completed this significant acquisition in Cape Town. It demonstrates our continued skill to structure and execute transactions across hotel segments and geographies,” explained David Damiba, Running Companion and CIO at Kasada. “With the acquisition of the Cape Grace and our subsequent capex determination, we continue on to think in the resilience of the African hospitality market place and validate our positioning as a leading investor and option company in the hospitality sector on the continent.”