Chairman of Eppley Caribbean Property Fund (ECPF), Nicholas Scott is all set to score another hit with a growing interest in what is the Caribbean’s only real estate cross-listed ( Jamaica, Trinidad and Barbados) fund.
A mix of retail and industrial assets, Eppley Caribbean Property Fund sees NCB Capital Markets, headed by CEO Steven Gooden as the arranger. Explaining the rationale behind taking this fund across the Caribbean, Scott, who is carving out a reputation as one of Jamaica’s finest financial sector operators said: “ Like all Jamaican investors we were enjoying stock markets at historic highs and interest rates at all-time lows, but we were also searching for value and it was getting harder to find. We discovered it in Barbados.
“Like what we had seen in Jamaica years earlier, Barbados was also showing early signs of a turnaround – a new administration, an IMF program, a debt restructuring and aggressive tax reforms.”
In May 2018, Eppley took control of the largest property fund in Barbados and renamed it the Eppley Caribbean Fund.
According to Scott, in the fund’s first year, Eppley has increased the fund’s earnings by almost 60%. The aim now is to increase its reach across the Caribbean. Eppley’s portfolio of buildings has some stellar tenants including Courts, Republic Bank, CIBC First Caribbean and Access Financial.
Combined, they produce yields of between 8% to 9%, much higher yields than banks, plus unlike bonds, the value of its buildings are likely to increase over time.
“We are offering all Jamaican investors the ability to own a portfolio of high quality commercial real estate, spread throughout the Caribbean in a liquid and tax-efficient form.”— Scott
Many of us can buy properties in Jamaica directly and we should, however, the fund offers liquidity, no transaction costs when it’s time to sell and risk spread across multiple countries and properties,” said Scott.
It’s heartening to see a Jamaican company looking to cross-list.
How do you think the Eppley Caribbean Property Fund will perform across the Caribbean?
Will many buy and hold this stock?
Let us know at BUZZ.