Grit Real Estate Income Group Limited (JSE:GTR) entered into heads of terms to acquire 50% stake in CH Building in Ghana from Cantonments City for $6.8 million on October 24, 2019. The deal value is subject to adjustment, pending final confirmation of the recoverable value of working capital balances, provided that such adjustment shall not increase the estimated Portman House Purchase consideration by more than 10%. In a related transaction, Grit Real Estate Income Group Limited entered into heads of terms to acquire 50% stake in Infinity Tower Property from Cantonments City. The transaction is subject to entering into investment agreement, raising the financing for the acquisition of CH Building, resignation of directors of CH Building and approval from the board of Grit Real Estate. The transaction is expected to complete no later than December 31, 2019. William Marle, Scott Mathieson, Mark Whitfeld and Monica Tepes of FinnCap Ltd. and David Tosi of PSG Capital (Pty) Limited acted as financial advisors for Grit Real Estate. Grit Real Estate Income Group Limited (JSE:GTR) canceled to acquire 50% stake in CH Building in Ghana from Cantonments City on October 24, 2020.