November 23, 2017, Lagos, Nigeria – Cap Phoenix Cornerstone, a joint venture between African Capital Alliance and Cornerstone Insurance Plc, today held a topping out ceremony to celebrate the completion of the structure of Cornerstone Tower, a 12-floor office project situated adjacent to the Four Points by Sheraton Hotel on Chief Yesufu Abiodun Road, Oniru Road, Oniru, an upscale, vibrant mixed-use district.  Cornerstone Tower has now reached its full height and is scheduled to open the second quarter of next year.

Once completed, this Grade A, ultra-modern office building will boast eight floors of flexible office space and meeting rooms, four floors of multi-level parking, a prestigious reception area and a ground floor café. The EDGE Certified Green Building will also be one of Nigeria’s most advanced developments, employing high technical specifications for installed building services, security and state of the art finishes.

Office spaces are designed with high efficiency and flexibility, and are built with raised floors and suspended ceilings with impressive natural lighting and ventilated spaces, allowing for modular spaces ranging from 200 square meters up to 1,400 square meters on each floor. The building’s central location in Victoria Island will provide convenient private and public transport access with direct links into Lekki, Ikoyi and the Lagos Mainland.

The project is being executed by a distinguished team of consultants: CPMS Limited (Project Managers), Delano Architects (Architects), Arup (Civil & Structural Engineers), UNECON Associates Limited (Mechanical & Electrical Engineers), BQC Consultants Limited (Quantity Surveyors) and Mar and Mor, (Mechanical, Electrical and Plumbing Services contractors).

The main building contractor, BCL Limited, brings 25 years of experience in the Lagos construction arena and utilizes leading edge methodologies to ensure that budget, quality and delivery programs are met.

About African Capital Alliance

African Capital Alliance (ACA) is a leading, independent investment firm focused on Nigeria and the broader West African region. ACA has, to date, raised more than $1 billion in capital commitments across several funds. Since its inception in 1997, ACA has grown into one of the most experienced private equity and real estate investment firms in the region, with more than 40 private equity investments across a number of high growth target sectors including oil and gas, power, telecommunications/media/technology (TMT), financial services, fast-moving consumer goods (FMCG) and business services.

ACA also has significant experience in the real estate sector and invests in residential, retail, office and hospitality products across the region. Some of its notable investments include Mansard Place, a Grade A office complex located in the Victoria Island Central Business District, Protea Hotel by Marriott (Ikeja, Benin City and Owerri City), Festival Mall and Onitsha Mall.