Live Easy - Investing in secure and affordable housing

MEDIA RELEASE

5 April 2024

Live Easy, Thrive Together - Investing in secure and affordable housing

Access to adequate housing is entrenched in South Africa’s constitution, but addressing this significant social and economic issue is an ongoing challenge. Live Easy’s innovative nano unit concept offers a unique and valuable solution to one of South Africa’s most pressing socio-economic challenges, helping people access affordable, safe, secure, and professionally managed modern housing environment.

Rather than simply building affordable housing units, Live Easy’s goal is to offer a quality and integrated lifestyle – through buildings which feature excellent amenities on site, like 24/7 security, open workspaces with wi-fi, lounges, chill areas, playgrounds, green spaces, large reception areas, retail shops, laundromats, salons, gyms, and crèches. Live Easy buildings are located in areas close to economic hubs, where tenants can access main transportation nodes and business centres.

“There is a unique opportunity in South Africa within the inclusionary housing space – providing housing to those within the R8,000 to R20,000 monthly income bracket who are in dire need of their own living space. Live Easy identifies the housing opportunities by acquiring land and/or existing and underperforming real estate buildings and repurposing these buildings to accommodate those in need of affordable homes says James Huff, co-founder at Live Easy.

Live Easy currently has 13 buildings in prime locations within Johannesburg and Pretoria, offering a secure and affordable lifestyle for a South African housing segment that has remained significantly under-served. However, maximising their impact requires the right partners, especially when it comes to financing their ambitious goals, and RMB has been there since the beginning, partnering with Live Easy over the past seven years as they built out their innovative affordable housing business.

“Our initial involvement was mainly through debt financing, but as Live Easy’s requirement for growth capital has evolved, we have taken a more holistic and active partnership role alongside the founding investors. RMB is investing directly into Live Easy as it continues to expand. We have also raised equity capital from our broader client base to co-invest alongside RMB in order to meet Live Easy’s growth ambitions,” says Keenan Jacobs, Transactor at RMB.

The incoming investors include Kagiso Capital, Mergence Investment Managers, Tamela and others, all of whom are key clients of RMB, share a common vision of creating access to quality, affordable housing for underserviced communities.

“We have partnered with RMB and visionary founders James Huff and Jeffrey Froom because we believe that Live Easy is an exceptional solution for our underserved communities, providing them with access to decent, affordable, and dignified housing. Live Easy embodies the innovation and entrepreneurial spirit necessary to combat inequality and address our socio-economic challenges,” says Nthabiseng Sibiya, Investment Manager at Kagiso Capital.

Tshepiso Appie, Investment Associate at Mergence Investment Managers says: “In 2023, we were able to quantify Live Easy’s impact. We performed a detailed analysis of the potential Social Return on Impact (SROI) by commissioning a research study with Ernst and Young (EY). On average, Live Easy’s tenants were able to reduce their travel time and distance travelled to work by 50%, reduce their carbon footprint related to transport by 71% and increase their savings by 132% since moving into Live Easy’s buildings.”

“The successful outcome of this collaborative capital raise and co-investment represents an important milestone in RMB’s relationship with Live Easy and is reflective of our strong, client focused approach towards partnership and solutioning,” says Jacobs.

With approximately 8,000 more units being brought onto the market in Gauteng over the next few years thanks to the collective investment driven by RMB, Live Easy’s platform will have a significant and meaningful impact on society and people.

ENDS