Real estate company now owns prime commercial real estate in Jamaica, Barbados and T&T

Eppley Caribbean Property Fund (ECPF) has acquired two commercial buildings in Trinidad and Tobago, thus expanding its real estate holdings to the twin-island Caribbean republic.

The buildings are located at 155-157 Tragarete Road, Port of Spain and 52 Valsayn Branch Road, Curepe. Justin Nam, fund manager for ECPF,  says “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”.

With this latest acquisitions, ECPF now owns and operates prime commercial real estate in three of the largest English-speaking countries in the Caribbean: namely Jamaica, Barbados and Trinidad and Tobago.

According to Nam, “we are pleased to have now acquired 10 properties totalling in excess of 500,000 square feet since Eppley assumed management of the Fund three years ago. We continue to pursue opportunities throughout the region to add to our growing portfolio of industrial, retail and commercial office assets”.

ECPF regional footprint being expanded

He explained that the acquisitions not only increase ECPF’s regional footprint but also enhance the Fund’s resilience through added diversification.

ECPF is the largest listed real estate mutual fund in the Caribbean and trades on the Jamaica, Barbados and Trinidad and Tobago stock exchanges.

Following completion of the above-mentioned acquisitions, ECPF owns 16 buildings in Jamaica, Barbados and Trinidad and Tobago comprising over 775,000 square feet. Last December, ECPF acquired controlling interest in the prime St Andrew real estate of Mall Plaza, located in uptown, Jamaica.

Under the sale agreement, Eppley Caribbean purchased a 50 per cent interest in Mall Plaza and has assumed control of its management and operations. Mall Plaza is a landmark commercial building consisting of over 69,000 square feet and 40 shops on a 2.3 acre parcel of prime land in the bustling Half-Way Tree area.

It remains unknown the price Eppley Caribbean paid for the 50 per cent controlling interest in the Mall Plaza. The acquisition follows a number of other significant investments in industrial, retail and office properties throughout the region, which have diversified the portfolio and made it more resilient to changes in the economic landscape.

The net asset value of Eppley Caribbean Property Fund has more than doubled since Eppley assumed management of the fund three years ago.