Norton Rose Fulbright has advised an investor consortium on its $48 million collective investment in a new warehousing project for Africa Logistics Properties.

The investor consortium is made up of CDC Group, International Finance Corporation (IFC) and Mbuyu Capital Partners.

The $48 million in capital will be used to support the Africa Logistics Properties’ warehousing developments in Kenya. CDC Group is committing up to $25 million to the deal, IFC is investing up to $10 million and Mbuyu Capital Partners is investing up to $5 million.

Based in Mauritius, Africa Logistics Properties has been co-founded and seeded by Maris Limited, an industrial investment group operating across Africa and by Toby Selman, Africa Logistics Properties’ CEO Africa Logistics Properties’ strategy  is to acquire, develop and manage modern logistics warehousing across Africa. The business seeks to address the growing need for quality warehousing, help reduce waste caused by poor storage, improve product security, and accelerate the speed of product delivery.

The Norton Rose Fulbright team advising the consortium was led by partner Bayo Odubeko who was assisted by Nari Armaly.

Bayo Odubeko said: “We are yet again delighted to have had the opportunity to support our key clients CDC and IFC and to also work again with Mbuyu Capital Partners.”