SFSREIT Q1 2026: NAV, Occupancy Rates and Portfolio Update

SFS Real Estate Investment Trust (SFSREIT) disclosed its key performance metrics for the quarter ended 31 March 2026, reporting a Net Asset Value (NAV) of ₦6,578,845,645.66. The fund holds eight properties, all residential apartments located across the Lekki corridor in Lagos.

Seven of the eight properties are fully operational, each recording a 100% occupancy rate with annual tenancy arrangements. Property yields among the active assets range from 3.40% at Cromwell Estate to 5.88% at Sapphire Gardens Estate, which is tenanted by corporate occupants. The portfolio spans properties aged between 1 and 16 years.

The eighth property, Northern Foreshore Estate Phase 4 located off Chief Yemi Idowu Way, Chevron, is currently under construction, carries a 0% occupancy rate, and records a 0.00% yield. The fund reported a delinquency rate on rents of 3.8% across the portfolio. The total number of residential units across all eight properties stands at 49, with Milverton Court Estate in Osapa, Lekki carrying the highest unit count at 17.