Sagicor Real Estate X Fund Limited (XFUND) advises that it has entered into an agreement to acquire a convention hotel in Orlando, Florida, which is affiliated with a major hotel franchise. The acquisition is slated for completion in September 2015. XFUND states that the move is in keeping with the company’s investment strategy to seek out real estate investment opportunities outside of Jamaica.
The company proposes to finance the acquisition by debt and equity and to this end, its Board of Directors will convene a meeting on August 3, 2015, to consider interalia, a non-renounceable rights issue to raise the additional equity required.
