UPDC REAL ESTATE INVESTMENT TRUST (“UPDC REIT”)
REQUEST FOR PROPOSAL THE ROLE OF THE FUND MANAGER
DEADLINE: 8TH SEPTEMBER, 2020
1. Introduction The UPDC Real Estate Investment Trust (“UPDC REIT”) is a collective investment scheme regulated by the Securities and Exchange Commission (“SEC”) that majorly invests in Real Estate assets in Nigeria. UPDC REIT is a close ended Property Fund listed on The Nigerian Stock Exchange (“The NSE). In 2013, UPDC sponsored the UPDC REIT, with the REIT issuing 2,668,269,500 units of N10.00 each and subsequently listing on The NSE in July 2013. Over the years, UPDc REIT has grown with a diversified portfolio of six (6) income producing commercial and residential Real Estate properties located in Lagos, Abuja and Aba.
The Fund Manager to the UPDC REIT has resigned and the Joint Trustees hereby uses this medium to invite interested parties to submit a proposal to fill up the role.
2. Requirements
The proposal must include the following:
a. Evidence of a valid registration as a Fund Manager with the Securities
and Exchange Commission;
b. Evidence of the minimum capital requirement as required by the SEC;
c.Evidence of registration of sponsored individuals with the SEC;
d. A copy of the most recent Fidelity Bond and an evidence of submission of the Bond to SEC;
e. A letter signed by the Compliance Officer confirming that the Company is in good standing with the SEC and has no outstanding deficiency with the Commission;
f. A Certified True Copy of the Certificate of Incorporation, Memorandum & Articles of Association, CAC 2 and CAC 7 of the Company;
g.Evidence of the Company Tax Clearance Certificate for the last three
3) years (2019, 2018, 2017
h. Demonstrates a track record of managing assets valued in excess of
N20,000,00o,o00.00 (Twenty Billion Naira) with a minimum of ten (10)
years experience as a Fund Manager;
i. Demonstrates the capacity to manage a Real Estate portfolio;
j. A comprehensive Company Profile with the Curriculum Vitae of the
Board of Directorsand Management Team, and
k. The Company’s last five (5)years financial summary.
3. Submission of Proposal
Interested parties can download the full RFP for more information using this
link:
https:/fbnmy.sharepoint.com/:b:/g/personal/olufemi_okin_fbnquest_com/EcoPLjLGUTpAk8YcRGjlz98BHULEh8HNVOKCQH25a_ cdQ?e=GEJYyp
Response to the RFP should be sent to the following email addresses:
publictrust@fbnquest.com and publictrust@unitedcapitalplcgroup.com on
or before spmon Tuesday, 8th September 2020.
4. General Information
a. Proposals submitted after the deadline for submission would be
returned unopened;
b. The proposal should contain the details of the contact person and
only the final short-listed parties would be contacted;
c.Please note that nothing in this advert should be construed to be a
commitment on the part of the Joint Trustees.
SIGNED BY THE JOINT TRUSTEES TO THE UPDC REIT
