Nairobi, Jan. 29 -- Centum Investment Company will partially finance a new office tower at its Two Rivers special economic zone using proceeds of a dollar-denominated income Real Estate Investment Trust (I-Reit) that is being issued before the end of the first quarter of this year.

The company said the new tower at the Two Rivers International Finance and Innovation Centre (Trific) will have 22 floors, with lettable space of 76,400 square metres.

Centum's Reit is targeting Sh5 billion ($37.3 million), whose first charge will be acquisition of an existing office property within the SEZ, known as the Trific North Tower, which has 16,234 square metres of lettable area that the company said is fully occupied.

"Part of the proceeds will be ...