Actis, RMB Westport and Paragon Sell Ikeja City Mall to Hyprop Investments and Attacq (Sub-Saharan A
Pan-emerging markets private equity firm Actis, Sub-Saharan Africa real estate investment management and development group RMB Westport and Nigeria-focused investor group Paragon Holdings have sold Nigeria-based retail mall Ikeja City Mall to South Africa-focused real estate investment trust Hyprop Investments and Johannesburg Stock Exchange-listed real estate capital growth fund Attacq. Actis sold a 60 percent stake while Paragon and RMB Westport each sold a 20 percent stake. Actis and Paragon Holdings originally sourced the development site for Ikeja City Mall in 2008. Financial details of the transaction were not disclosed.