Unlock Capital from Mission-Critical Real Estate — Without Disrupting Operations

N3 SALE-LEASEBACK 15-YEAR COVENANT PACKAGE

N3’s flagship Sale-Leaseback 15-Year Covenant Package™ delivers immediate liquidity, long-term occupancy control, and a standardized institutional-grade transaction structure trusted by Africa’s leading corporations and global investors.

Book C-Suite Strategy Call Download Executive Summary

Sir Felix Modebe, B.Sc., M.Sc., MBA, FRICS, CCIM, KSJI

The N3 Five Proprietary Flagship Products

PROPRIETARY FLAGSHIP PRODUCT DESIGNED & AUTHORED BY

Sir Felix Modebe B.Sc., M.Sc., MBA, FRICS, CCIM, KSJI
Visionary Founder-Leader | N3 CAPITAL AFRICA
Africa's Premier Integrated Corporate Real Estate Capital Platform

Michael Brian

The Founder

These solutions are delivered through a structured, institution-ready methodology that mirrors the standards of global Big Four advisory and leading real estate capital platforms.
Together, these five products enable corporates to:

Transform real estate from cost centre to strategic value driver

Unlock and redeploy capital at scale

De-risk power and energy exposure

Build and occupy modern, ESG-aligned facilities

Access global and DFI capital on favourable terms

WHAT THIS PRODUCT SOLVES

The Problem
Across Africa, corporations hold $300B+ in under-performing real estate — while facing:
• Rising capital expenditures
• Balance-sheet pressure
• Regulatory liquidity requirements
• Expansion demands without access to affordable debt
• High cost of capital (18–26% in some markets)
The N3 Solution
A structured 15-year Sale-Leaseback covenant that releases 85–90% of the property's market value today—
while the corporation continues to operate uninterrupted in the same facility under an optimized long-term lease.

Michael Brian

The Founder

AT A GLANCE: PRODUCT SNAPSHOT

Feature

(1) Capital Release
(2) Lease Covenant
(3) Lease Type
(4) Escalations
(5) Investor Type
(6) Corporate Benefit
(7) Investor Benefit

Description

(1) 85–90% of market value unlocked as cash
(2) 15-year base term + renewals (up to 30
(3) Triple-net (tenant covers all OPEX)
(4) CPI-linked with negotiated caps/floors
(5) Pension funds, REITs, insurers, DFIs
(6) Zero new debt, liquidity injection, off-balance-sheet potential
(7) Stable, inflation-protected, long-tenor income

WHO THIS PRODUCT IS DESIGNED FOR

• Corporate Occupiers
• Banks & financial institutions
• Telecom operators & data centers
• Oil marketing companies
• FMCGs & manufacturers
• Hospitals, diagnostic centers
• Logistics & cold-chain operators
Institutional Investors
• Pension funds
• Insurance companies
• Sovereign wealth funds
• Listed & unlisted REITs
• Family offices
• DFI-linked real estate funds

THE FIVE-PART STRUCTURE OF THE 15-YEAR SALE-LEASEBACK PACKAGE

1. Property Valuation & Pricing Framework

• Independent appraisal (JLL, CBRE, Knight Frank, or accredited valuers)
• Yield-based investor valuation
• Liquidity modeling and net-proceeds forecasting

2. 15-Year Leaseback Covenant Engineering

• Base rent (cap-rate × purchase price)
• CPI-linked escalations
• Triple-net (OPEX/CAPEX handled by occupier)
• Purchase options at strategic years (10, 12, 15)
• Renewal options up to 30 years total

3. Tenant Covenant & Governance Structure

• Financial reporting requirements
• Occupancy %, operations continuity
• Performance conditions

4. Landlord Protections

• Security deposit
• Corporate guarantees
• Insurance & compliance coverage

5. ESG Integration Layer

• Solar hybridization
• Energy-efficiency retrofits
• EDGE certification pathway
• Carbon-reduction modeling

VALUE CREATED FOR CORPORATE OCCUPIERS

Liquidity & Capital Strategy
• Release $15M – $150M+ tied up in land and buildings
• Fund expansions, digital upgrades, M&A, or debt reduction
• Preserve borrowing capacity for core business activities
Operational & Financial Strengthening
• No relocation required
• Predictable occupancy costs
• Off-balance-sheet treatment options
• Strengthened liquidity, leverage, and capital ratios
Strategic Flexibility
• Built-in buyback options
• Ability to reconfigure occupancy
• Ability to re-enter ownership when ideal

VALUE CREATED FOR INSTITUTIONAL INVESTORS

Yield & Duration Benefits
• Predictable inflation-protected yield
• 9.5–12.5% unlevered IRR
• 15–20% levered IRR (70% LTV markets)
Risk-Adjusted Performance
• Mission-critical tenancy
• Zero vacancy exposure
• Strong corporate covenant
ESG & Risk Framework
• High compliance tenant environment
• Modernized and energy-efficient asset
• Long-term green finance eligibility

CASE STUDY

Nigerian Commercial Banking Group — HQ, 185,000 SF (Victoria Island, Lagos)
Purchase Price: $51.5M
Sale Proceeds to Corporate: $49.2M
Annual Rent: $6.18M
Escalations: 3.5% CAGR
Corporate Impact (24 Months):
• $49M capital redeployed into branch expansion & digitalization
• Deposits ↑ $85M | Loans ↑ $28M
• Debt-equity improved from 9.8× → 8.2×
• Zero business disruption
Investor Impact:
• Pension fund consortium
• 11.2% unlevered IRR
• $51.5M → $56M asset value after enhancements

TRANSACTION PROCESS & TIMELINE
Phase | Duration | Key Activities

Institutional-Grade Financial Framework

WHY N3 CAPITAL AFRICA

Africa’s Premier Corporate Real Estate Capital Platform™
N3 brings:
• Institutional-grade structuring
• Pan-African corporate advisory expertise
• Investor network across pension funds, DFIs, insurers, REITs
• In-house real-estate, finance, ESG, and engineering skillsets
• Proprietary frameworks: PEP™, BTS™, Power Optimization™, ESG Upgrade™
This is what sets N3 apart from traditional brokers, property consultants and advisors.

Begin Your Capital Unlock Strategy Today

Corporate Occupiers: mbeki@n3capital.africa
Institutional Investors: mbeki@n3capital.africa
www.n3capital.africa

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