The MOFI Real Estate Investment Fund (MREIF) has recorded a Net Asset Value (NAV) of N270.29bn at the close of the 2025 financial year, reflecting steady growth from the N261.83bn reported at the start of the fourth quarter.
Details contained in its Q4 2025 investor report filed with the Nigerian Exchange Limited show that the fund maintained strong performance momentum within its first year of operations.
Structured as a N1tn shelf programme, MREIF operates as a closed-end real estate investment fund under a unit trust scheme, regulated by the Securities and Exchange Commission. The fund commenced operations on March 17, 2025, following full subscription and regulatory clearance for its N100bn Series 2 issuance.
Income Performance and Investor Returns
For the 10-month period ended December 31, 2025, the fund posted total income of N36.54bn, largely driven by interest income on financial instruments and loans.
Commercial investors earned an impressive annualised yield of 19.28 percent, underscoring the fund’s attractiveness in Nigeria’s capital market space.
ARM Investment Managers Limited, the fund manager, announced a final distribution for 2025:
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Series I investors: N3.7468 per unit
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Series II investors: N9.7192 per unit
Investors on the register as of February 20, 2026, will receive dividend payments electronically on February 27, 2026.
Mortgage Expansion Across 21 States
Beyond asset growth, MREIF intensified efforts to address Nigeria’s housing deficit.
By December 31, 2025, the fund had:
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Originated 1,082 mortgages
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Disbursed N70.72bn
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Covered 21 states and the Federal Capital Territory
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Onboarded 18 Eligible Financial Institutions (EFIs), including eight commercial banks and 10 mortgage banks
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Executed two offtake guarantees worth N5bn
In Q4 alone, the fund disbursed N23bn to finance 336 mortgage applications.
The fund’s strategy combines concessionary public capital with private sector funding to provide single-digit interest rate mortgages through partner financial institutions.
Strong Credit Ratings
Sponsored by the Ministry of Finance Incorporated, the fund has secured:
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Aaa rating from Agusto & Co
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AA rating from Global Credit Rating (GCR)
These ratings reinforce investor confidence and the fund’s credit strength.
