Mansard Insurance Commissioned N5bn Office Complex

Mansard Insurance Plc and African Capital Alliance (ACA) hosted members of the Lagos public and private sector to an official opening of Mansard Place, their recently completed grade-A office investment in the heart of Victoria Island CBD.The building was commissioned by the Honourable Commissioner for Finance for Lagos State, Mr. Tokunbo Abiru.

Mansard Place is a newly developed five-storey, twin-tower office building incorporating leading edge sustainable technologies and providing high quality office space, it is set to redefine the office work environment in Victoria Island. The N5bn project, developed through a joint venture between Mansard Insurance Plc and African Capital Alliance, is located at plots 927 – 928 Bishop Aboyade Cole Street, Victoria Island, Lagos. The building is built to an international grade-A standard and it comprises 7,000 square meters of lettable space, premium finishes and high quality building services. The project incorporates multiple elevator banks, ample parking bays, security systems and CCTV and 24-hour utilities.

The building’s iconic design and prime Victoria Island location in close proximity to Exxon Mobil Headquarters, the KPMG Building and the Lekki-Epe Expressway, positions it favourably for both the current and future Lagos business expansion.

In his welcome speech, Tosin Runsewe, the Chief Client Officer, Mansard Insurance plc described the new edifice as: “Lagos' commercial office development of choice, boasting of a simple, yet functional iconic design with an equally keen focus on aesthetics and practicality of the building’s high quality interior.

Obi Nwogugu, a Principal at ACA’s Real Estate Fund said; “The development of Mansard Place has raised the bar on grade-A office standards in this market. The layout of the building’s floor plate enabled us achieve great flexibility for users of various sizes. There has been a strong response from multinational tenants which has led to us achieve a high occupancy of the building.”

Mansard Insurance plc is a leading provider of life & general insurance services which also provides investment products through its asset management subsidiary, Mansard Investments Limited. Mansard Insurance is the most capitalized insurance company quoted on the Nigerian Stock Exchange with a market capitalization in excess of N20bn.

Mansard Insurance plc was incorporated in June 1989, borne out of a desire to create an insurance company capable of providing world-class risk management solutions to discerning consumers in Nigeria and beyond. The company has evolved from being a subsidiary of GTBank plc into a wholly independent insurance company with major shareholding by Assur Africa Holding, a consortium of three European Development Finance Institutions and two Private Equity firms.

ACA is a leading Lagos-based private equity firm that invests in West Africa, principally in Nigeria and the Gulf of Guinea. The firm’s mission is to mobilize capital, managerial expertise and technology to create a modern economy in Africa; reshaping the continent’s economic agenda by unlocking it’s private sector potential.

With over $750 million in funds under management, ACA is a dominant player in its markets and has a significant track record of successfully exiting investments. ACA’s real estate fund continues to make investments in the West African region focusing primarily on the hospitality, retail, office, industrial and residential sectors.