Company and trust real-estate schemes
Nigeria Listed Real Estate Investment Scheme Structure Map
Follow money into a Nigerian REIT through exchange trading, propertyLand and buildings held for use, rent, development, or capital appreciation. ownership, rent collection, management, valuation, distributions, and investorA person or organisation that commits capital with the expectation of a financial return. exit.
Responsibility chain
Stage 01
Understand the properties and legal structure
The investorA person or organisation that commits capital with the expectation of a financial return. buys listed interests in a real-estate investmentAn asset or commitment of money made with the expectation of future income, growth, or both. scheme. The scheme may be constituted as a company or a trust, and that choice changes legal title, trustee involvement, governance, and investor rights.
Who is responsible at this stage?
Choose a lane, then inspect a highlighted participant.
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Follow the four lanes
Money
No purchase cash moves until fees, leverageThe use of borrowed money or derivatives to increase exposure relative to invested capital., occupancy, distributions, and propertyLand and buildings held for use, rent, development, or capital appreciation. risks are understood.
Assets
The underlying assets are propertyLand and buildings held for use, rent, development, or capital appreciation. interests, leases, cash, and permitted investments.
Records
ProspectusThe formal document explaining a fund's objective, strategy, risks, fees, governance, and dealing rules., propertyLand and buildings held for use, rent, development, or capital appreciation. schedule, valuation reports, leases, and accounts describe the structure.
Oversight
SEC, company directors or a trustee as applicable, the auditor, and the valuer provide different forms of governance, oversight, and assurance.
Before you commit money
The responsibility test
Legal structure
Confirm whether the scheme is a company or trust, who holds legal title, and which trustee, custodianA licensed institution that safeguards a fund's cash and securities separately from the manager's own assets., directors, or manager roles actually apply.
Income quality
Separate recurring rent from valuation gains and one-off propertyLand and buildings held for use, rent, development, or capital appreciation. sales.
Market liquidityThe ease and speed with which an investment can be converted into cash without a major price concession.
A listed REIT may trade infrequently or away from reported NAV.
Sources for this stage
These sources support the current stage. Verify later amendments and the specific product documents before acting.
Content reviewed: 11 June 2026
Educational information only. Exact arrangements vary by product and provider and may change. Regulation, quotation, listing, custody, or deposit insurance does not eliminate investment risk.