To integrate the entire building lifecycle into a seamless platform to redefine how the world builds.
1. The Trustee
The Co-operative Bank of Kenya Limited, the “Trustee”, is incorporated in Kenya under the Companies Act and is licensed by the Authority to provide REIT Trustee services and also licensed to do the business of banking under the Banking Act.
The Trustee has offered Custodial and Trustee services to a wide range of clients including retirement funds, collective investment funds and other investment companies since 2001 and is regulated by the following bodies:
- The Capital Markets Authority;
- The Retirement Benefits Authority; and
- Central Bank of Kenya
The Trustee is also regulated under the Central Depositories Act as a Central Depository Agent (CDA) and holds a CMA license as a Trustee.
The Trustee’s main objective is to maintain the custody of, hold and protect all the REIT Assets, ensure they are held in the name of and registered, where required, in the name of and under the Control of the Trustee for the benefit of the Securities Holders as well as appointment of all relevant professionals on bwhalf of the REIT.
2. The REIT Manager
The REIT Manager for LAPTRUST IMARA I-REIT is Sterling REIT Asset Management Limited (“STREAD”) a private company incorporated in October 2013 and licensed by the CMA as a REIT Manager.
The core business of STREAD is offering real estate asset management and advisory services. Since 2013, STREAD has been involved in commercial real estate advisory assignments with institutional investors and provided guidance to several potential promoters considering setting up D-REITs and I-REITs.
As a real estate asset manager, STREAD’s singular objective is to formulate long-term strategies that will ensure optimum returns for the underlying shareholders of the REIT over the long-term.
This includes overseeing the execution of the real estate strategy, and ensuring that the efforts of all relevant service providers align to the policies and processes outlined in the long-term strategic plan that is designed to ensure optimum yields from the real estate assets over the long-term. It also includes making decisions on the acquisition of quality real estate assets as well as disposal of assets based on the attractive nature of the long-term yields.
3. The Property Manager
Laser Property Services Limited (LASER), the Property Manager for LAPTRUST IMARA I-REIT was incorporated in 2013, as a subsidiary of CPF Financial Services offering real estate services.
LASER is a professional real estate company that will deal with property and facility management, real estate agency and feasibility and investment appraisal on behalf of the REIT. LASER has built internal capacity in key real estate functions critical in ensuring delivery of professional services and offering solutions to any emerging property related challenges.
LASER and its representatives are members of various institutions with certifications and codes of practice that provide landlords and tenants with an assurance that they will receive the highest level of customer service from qualified professionals.
LASER Properties Services Limited is uniquely qualified to handle the responsibility of Property Manager for the LAPTRUST IMARA I-REIT as the entity has been managing the Seed Properties on behalf of the LAPTRUST “The Promoter”. The company has also been managing properties on behalf of several other parties including the Police Sacco Plaza.