Buy Local, Own Global

Kingston Properties Limited (KPREIT) specialises in value-added commercial property investments in the industrial, office, multifamily and mixed-use spaces. Our primary objective is to increase shareholder value through the ownership and management of real estate that will generate sustainable long-term dividends.

You are invited to be part of our next chapter of growth as we continue to build a resilient future.

Download the Prospectus

Additional Public Offering 2022

The KPREIT Additional Public Offering (APO) invites offers for the subscription of up to 200,000,000 New Ordinary Shares (with the ability to upsize to a maximum of 300,000,000 New Ordinary Shares).

Apply now

The Offer

This additional public offering (APO) is an invitation to the public for subscription of new ordinary shares (with the ability to upsize), payable in full on Application. See details below.


Issuer:

Kingston Properties Limited (the “Company”)

Issue Amount:

200,000,000 New Ordinary Shares

Offer Price:

J$7.50 per New Ordinary Share Payable in full on application using an approved payment method

Minimum Purchase:

1,000 new ordinary shares. Applications above this amount shall be in multiples of 100 new ordinary shares.

Opening Date:

 April 19, 2022

New Closing Date:

 June 10, 2022

Use of Proceeds

The Group has been identifying mainly value-added commercial properties in the Caribbean and the US to provide a better than average risk-adjusted return on investment. Net proceeds from this APO will be used to achieve some key objectives:

  1. Identify and acquire distressed assets in segments of the real estate market most likely to benefit from the recovery expected post-pandemic  
  2. Increase group equity to J$10B by 2023
  3. Increase the square footage under ownership or management to 1,000,0000 square feet

Our key priorities over the next 12 months include:

  1.  Capital growth
  2.  Geographic asset portfolio diversification
  3.  Leveraging strategic partnerships for growth
  4.  Executing on our digital roadmap
  5. Identify and acquire distressed assets in segments of the real estate market most likely to benefit from the recovery expected post-pandemic
  6. Increase group equity to J$10B by 2023
  7. Increase the square footage under ownership or management to 1,000,0000 square feet


2012:

Acquired a fully tenanted 47,865 sq ft office/warehouse complex on Red Hills Road in Kingston, Jamaica.

September 2013:

Acquired a 20-acre property for housing development in Waterworks, Westmoreland, Jamaica.

June 2014:

The board authorized a buy-back of up to 1% of Kingston Properties’ common shares. 

September 2014:

Sold 4 residential units at the Loft II and used the proceeds to acquire a 19-unit

apartment building in Little Havana, Miami. 

January 2015:

Sold the Hagley Park Road Property in Jamaica. 

July 2015:

Raised $650 million in a renounceable Rights Issue. 

September 2015:

Acquired 5 condo units in Midblock in Miami and 4 units at the W Fort Lauderdale.

October 2015:

Founding director, Fayval Williams resigned and a new CEO, Kevin Richards, was appointed.

December 2015:

Sold the 19 unit apartment building In Little Havana.

March and December 2016:

Negotiated US$5.8 million in loans to acquire additional properties in Jamaica, the US and the Cayman Islands. 

April 2016:

Acquired 3 condo units in Opera Tower in Miami.

January 2017:

Acquired first property in the Cayman Islands as well as an additional office and warehouse property in Jamaica.

May 2017:

Shareholders approved a 1:1 stock split.

September 2017:

Sold the 20-acre property in Waterworks, Westmoreland.

September 2018:

Sold four condo units in South Florida – two units at the Loft II and one each at Midblock and the W. Fort Lauderdale.

November 2018:

Acquired Grenada Crescent property. 

April 2019:

Board developed the key strategic targets to grow equity to J$10.0 billion in three years and increase the square footage under ownership/management to 1,000,000 sq ft.

October 2020:

Lands 88,000-sq ft warehouse commercial property at East Ashenheim Road in Kingston. 

July 2020:

Acquired the Harbour Centre, a multi-story office building in The Cayman Islands.

June 2021:

Signed a $700-million 13-month bridge loan with Victoria Mutual Investment Limited to continue the expansion of its property portfolio.

July 2021:

Joined forces with two American companies to acquire a residential complex in Atlanta, Georgia called Polaris at Camp Creek.

September 2021:

Acquired three of four pre-construction units in a mixed-use industrial development in the Cayman Islands called Gum Tree 5.

December 2021:

Acquired second property along Spanish Town Road, an approximately 2.7-acre property with approximately 23,000 sq ft of warehouse and office space.

January 2022:

Completed a strategic reorganisation of the Group’s structure.

Historical Performance

A look at some key numbers 

About KPREIT

KPREIT Playlist

8 Videos

Top 10 Shareholders


Name

volume

%

1

VM WEALTH PROPERTY FUND

237,623,825

35.1

2

RIME ASSET MANAGEMENT JPS EMPLOYEES SUPERANNUATION FUND

138,584,772

20.5

3

PAM – COURTS (JAMAICA) PENSION PLAN . 

45,530,519

6.7

4

PAM – POOLED EQUITY FUND 

41,096,639

6.1

5

PLATOON LIMITED 

31,018,806

4.6

6

NATIONAL INSURANCE FUND 

27,142,856

4.0

7

PAM-POOLED PENSION REAL ESTATE 

25,800,681

3.8

8

GUARDIAN LIFE SHELTER PLUS FUND 

20,680,000

3.1

9

SAGICOR LIFE – LASCELLES DEMERCADO DEFINED CONTRIBUTION FUND 

17,793,565

2.6

10

GUARDIAN LIFE POOLED PENSION FUND 

10,000,000

1.5

Application Process

Thanks for choosing to be a part of the KPREIT family! To complete the process of owning your very own portion of our company, we ask that you please read the full terms and conditions of the invitation in the prospectus before completing the form and accepting the offer. 

Application requirements:

  1. Copy of valid identification (Driver’s License, Passport or National ID) for all individual applicants
  2. Copy of Tax Registration Number card for all applicants residing in Jamaica
    (NB: if the document tendered at Item 1 is the Jamaican driver’s license, this will not be required).
  3. Payment or proof of payment using an approved payment method (where applicable)
  4. See section 16 of the prospectus for additional details
Visit Wealth IPO Edge to take up the offer

Kingston Properties Limited

Registered Office:
7 Stanton Terrace, Kingston 6
info@kpreit.com
www.kpreit.com
876-620-4920

Corporate Office:
36-38 Red Hills Road, Kingston 10
Building B, 1st Floor,

Arranger and Lead Broker:
VM Wealth Management Limited
53 Knutsford Boulevard, Kingston 5
capitalmarkets@myvmgroup.com
vmwealth.myvmgroup.com
876-960-5000-3

Selling Agents:
Barita Investments, JMMB, JN Fund Managers, Sagicor Investments, Scotia Investments

Frequently Asked Questions

FREQUENTLY ASKED QUESTIONS

What is the minimum amount of KPREIT New Ordinary shares that I can buy?

A minimum of 1,000 units and increments of 100 units at J$7.50 per share may be purchased.

Where can I apply to purchase KPREIT New Ordinary Shares?

You may apply at any of the following selling agents:

  • Victoria Mutual Wealth Management Limited locations (Lead Broker)
  • JMMB Investments locations
  • Mayberry Investments Limited locations
  • Barita Investments Limited locations
  • Proven Wealth Limited locations
  • Scotia Investments Jamaica Limited locations.
  • NCB Capital Markets only via GoIPO

What is the price per share for KPREIT Additional Public Offer of Ordinary Shares?

J$7.50 per New Ordinary Share

When will the KPREIT Additional Public Offer of Ordinary Shares open?

The KPREIT Additional Public Offer of Ordinary Shares opens on April 19, 2022

How will shares for the KPREIT Additional Public Offer of Ordinary Shares be allotted?

New Ordinary Shares will be allocated after the close of the application. The application list will now close on June 10, 2022 at 2:30 pm Jamaica time unless the Company elects to close the application list prior to the Closing Date. New Ordinary Shares will be allocated on a “first-come, first-served basis”. If the Invitation is oversubscribed, the Company reserves the right to allot the New Ordinary Shares to Applicants on a basis to be determined by it in its sole discretion, including on a pro-rata basis. In this case, Applicants may be allotted fewer New Ordinary Shares than they applied for.

How many shares is JKPREIT issuing during its Additional Public Offer of Ordinary Shares?

KPREIT will issue 200,000,000 New Ordinary Shares.

How To Apply

How to Apply

Apply Online

Make sure you have all the information you need by reading the full terms and conditions of the invitation in the prospectus before responding to the offer.

Click Here to Apply

Mission Statement

To be the premier real estate investing company in Jamaica that acquires, owns, leases and manages real estate properties on behalf of our shareholders.

Find out more about Kingston Properties >

For more information about the APO contact:
Buy Local, Own Global.
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