Grit Real Estate Income Group Forms Strategic Partnership with Broll Property Group

Grit Real Estate Income Group has announced a strategic partnership with Broll Property Group, which aims to optimize operations and reduce costs. Under this partnership, Broll will manage the property and facilities of Grit's assets valued at approximately US$812 million, excluding certain retail assets in Zambia and Morocco.

Expected annual cost savings are around US$1 million, aligning with Grit’s goal to reduce administrative costs. This collaboration will allow Grit to focus more on impact real estate development and asset management. The partnership will also leverage Broll's expertise to enhance rental collections and minimize vacancies.

The partnership is set to begin on February 1, 2025, following a preparation phase. Bronwyn Knight, Grit's CEO, and Malcolm Horne, Broll's CEO, expressed optimism about the new collaboration and its potential to enhance operational efficiency and value for stakeholders.