Travel/Tourism
Morrison Street Capital Raises $200m for Mezzanine Debt Fund
By Dipo Olowookere
At least $200 million has been raised by Morrison Street Debt Opportunities Fund for Mezzanine Debt Fund.
It was gathered that on April 30, 2017, Morrison Street Debt Opportunities Fund held its final close, reaching its target with total equity commitments of $200 million.
The firm provides small-balance mezzanine capital, with investment balances generally ranging from $2 million to $10 million, to real estate market participants across a diversified set of property types in the top 100 MSAs nationwide.
MSDO’s investments are structured as either mezzanine debt, B-notes or preferred equity, tailored to meet the specific needs of each situation.
Morrison Street Capital formed MSDO to capitalize on the current opportunity in the debt capital markets, as well as to leverage its experience as debt and equity investors in the mid-market real estate sector.
MSDO targets stabilized properties, either secondary assets in primary markets or prime assets in secondary markets, and provides long-term mezzanine capital to create tailored solutions for financing gap shortfalls. Unlike many other providers of real estate debt, MSDO does not utilize fund-level leverage.
MSDO attracted capital from both existing and new investors. Investors in the fund include pension plans, endowments, foundations, family offices and registered investment advisors, with investor interest stemming from both the United States and Europe. Of note, most of these have been investors in prior Morrison Street funds.
Thus far, MSDO has made 21 mezzanine investments that, in aggregate, represent approximately 66% of the fund’s total commitments.
Accord Capital Partners LLC, along with its affiliate Accord Europe Limited, served as exclusive global capital advisor to Morrison Street.
Travel/Tourism
Musawa, Governor Mba Commission Enugu Christmas Village
By Dipo Olowookere
The Enugu Christmas Village has been commissioned by the Minister of Arts, Tourism, Culture, and the Creative Economy, Ms Hanatu Musawa; and the Governor of Enugu State, Mr Peter Mba.
This development officially kicked off the holiday season in the state, giving residents and others from across Nigeria and outside the opportunity to relax in an atmosphere of love, positioning Enugu as a key destination for cultural and holiday tourism.
Facilitated by Omu Resort, a leading tourism promoter in Africa, the Enugu Christmas Village is set to become the heartbeat of holiday celebrations in the state.
The company has already organised a 25-day festival at the village designed to attract residents, visitors, and dignitaries from across the region.
With its vibrant atmosphere and festive attractions, the Enugu Christmas Village boasts an array of attractions such as a waterpark, roller skating, archery, amusement rides, and much more.
At its centre is a breathtaking display of 500,000 Christmas lights, illuminating the village in a magical glow that promises to captivate visitors of all ages.
The festival goes beyond the lights and rides, offering a rich tapestry of events that celebrate the state’s cultural heritage.
Highlights include Afrobeat Concert, Praise Night, Highlife Concert Street Carnival, Cultural Parade and a Grand Fireworks Show.
One of the most anticipated moments is the Santa Street Storm, where over 100 Santa Claus figures riding tricycles will parade through the streets, distributing gifts to orphanages and the less privileged, spreading joy and goodwill.
Running from December 7 to December 31, 2024, the Enugu Christmas Festival is more than just a celebration of the holiday season. It underscores the state’s cultural vibrancy and its potential as a leading tourist destination.
The festival offers a unique opportunity for families and friends to come together, celebrate, and unwind in a festive atmosphere. It is also expected to fosters unity and showcases the rich cultural heritage of Enugu State, while promoting arts, tourism, and community well-being.
Travel/Tourism
Emirates Unveils Airbus A350-900 in Dubai
By Aduragbemi Omiyale
One of the leading airline operators, Emirates Airline, has officially unveiled its first Airbus A350-900 at an exclusive event showcase in Dubai attended by aerospace partners, government officials and dignitaries, members of the media, as well as aviation enthusiasts.
The Emirates A350 features three spacious cabin classes, accommodating 312 passengers in 32 next-generation Business Class lie-flat seats, 21 Premium Economy seats and 259 generously pitched Economy Class seats.
The latest onboard products reflect the airline’s commitment to delivering a premium passenger experience while optimising operational efficiency. The Emirates A350 is the first new aircraft type to join Emirates’ fleet since 2008.
Apart from its newly delivered A350, Emirates operates two other aircraft types around the world to 140 destinations – the widebody Boeing 777 aircraft and the iconic ‘double decker’ Airbus A380 aircraft.
The A350’s introduction will enable Emirates to expand into new destinations globally, including mid-sized airports unsuited for larger aircraft. The Emirates A350 will be delivered in two versions – one for regional routes and one for ultra long-haul routes.
The Emirates A350 takes technology to another level. Customers can now adjust their electric window blinds at the touch of a button.
The aerBlade dual blind system will feature in Business and Premium Economy Class offering two shaded options, and the aerBlade single blind systems will make a debut in Economy Class, with all blinds showing the Emirates Ghaf tree motif when closed.
Business Class on the Emirates A350 will feature 32 luxurious leather ‘S Lounge seats’, inspired by the Mercedes S Class for an exceptional travel experience. The A350 aircraft will feature brand new additions of wireless charging on the side cocktail table in Business Class, and in-seat lighting controls with 5 streams of light. The 1-2-1 seat configuration in the A350 Business Class ensures a very private, exclusive experience.
Speaking at the event, the chairman of Emirates Airline, Mr Ahmed bin Saeed Al Maktoum, said, “Today is an exciting milestone for Emirates as we showcase our first A350 and usher in a new era for our fleet and network growth.
“This aircraft sets the stage for Emirates to spread its wings farther by offering added range, efficiency and flexibility to our network, enabling us to meet customer demand in new markets and unlock new opportunities in the cities that we serve.
“Onboard, our updated interiors and seating configurations will help us deliver a more elevated and comfortable experience to travellers across every cabin class.
“The 65 Emirates A350s joining our fleet in the coming years fit into the airline’s broader plans to support our visionary leadership’s Dubai’s D33 Strategy, which will transform the city into a pivotal hub in the global economy by expanding its connectivity and reach.”
Travel/Tourism
Air Peace Employees Undergo Training at Boeing Global Learning Institute
By Aduragbemi Omiyale
Some employees of Air Peace have upgraded their aviation safety skills at a training course organised by Boeing through the Boeing Global Learning Institute (BGLI) in collaboration with Cranfield University, United Kingdom as part of a shared commitment to shaping the future of aviation leadership.
Over the years, Air Peace has recognized that a deep, unwavering commitment to safety is key to its continued success.
The programme is aimed at building upon that vision, enabling executives to lead with confidence, manage risks effectively, and create high-performing teams that prioritize safety at every level.
In the five-day in-person training, all the executives and others in the various departments of Air Peace were taught advanced safety leadership skills and gained practical tools to implement the new knowledge.
The Head of Aerospace at Cranfield University, Prof Graham Braithwaite, said, “This collaboration ensured that the training directly addresses the challenges Air Peace faces, culminating in real-world capstone projects that would have a lasting impact.”
Reinforcing this position, the Lecturer for Organisational Resilience and Change at Cranfield School of Management, Fabian Steinmann, who was excited at the great progress Air Peace made over the years, said that they are happy to learn and share knowledge and find ways to strengthen the system, making it robust and flexible to adapt to the ever-changing environment.
“Safety is at the heart of everything we do at Cranfield so the privilege we have is that we travelled around the world, picked up the good practices, learned more about the culture and the operation in various countries so we’re here to facilitate that exchange with Nigeria and Air Peace to see how we share some of the good practices and lessons learned from all around the world and translate them into their operation.”
Also, the Senior Organisational Consultant and Programme Manager at Boeing Global Learning Institute, Harry Magui, said, “The Boeing company has long recognised the importance of supporting continuous learning of our aviation partners.
“To that end, the Boeing Global Learning Institute designs and delivers numerous learning programmes to both emerging and established leaders of our partners.
“These efforts aim to develop leadership, business, and technical skills so that our partners can improve their business processes, increase operational efficiency and enable leaders to strengthen their teams to ultimately grow their business.’
Alluding to the great work Air Peace has done in making safety a pre-condition rather than just a priority, Magui said, “We’re here to partner with our great partner, Air Peace who have been phenomenal in advancing the Aviation Industry in Nigeria, so we are here to support them to harness more opportunities in the future with the Advanced Leadership in Safety Excellence Training for all its top leadership within the organization.”
The Safety Manager at Air Peace, Captain Godfrey Ogbogu, said, “This class is quite essential and we’re lucky to have our resource persons impact knowledge on us. It is a well-structured training, especially for Air Peace because of where we are now and where we hope to go in the future.
“The whole essence of this class is to reinforce what we know before and be exposed to other avenues of learning. The aviation industry is ever-changing and dynamic, and Air Peace has to be abreast of such developments.”
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