South African investment firm Mara Delta Property Holdings is set to acquire a pharmaceutical storage facility along Nairobi’s Mombasa Road from South-Africa based Imperial Health Sciences Logistic, in a deal though to be worth around USD$20 million.

“Mara Delta has agreed to acquire the Imperial Health Sciences logistics warehouse in Nairobi, Kenya.” The company announced in a trading update.

“The facility will be leased back to Imperial Health Sciences on a 10-year triple net basis, denominated in US$ and guaranteed by Imperial Holdings Limited.” Mara confirmed it had made a deposit on the deal in December.

Mara will pay USD$17 million for the warehouse and around USD$3 million for accompanying vacant land.