FOR IMMEDIATE RELEASE
PRESS RELEASE
March 23, 2026
SYGNUS REAL ESTATE FINANCE GENERATES 17.5% AVERAGE RETURN ON EQUITY
SINCE INCEPTION, POSITIONS PORTFOLIO FOR NEXT GROWTH PHASE
(Kingston, Jamaica) – Sygnus Real Estate Finance (‘SRF’ or ‘the company’), during its March 18, 2026 AGM, reported a six-year average return of 17.5% on shareholders’ equity, underscoring the strength of its investment strategy, as the company shared its performance for the financial year ended August 31, 2025. During the meeting, the company also outlined key portfolio developments and strategic priorities that will guide its next phase of real estate investment and capital deployment.
Notably, SRF has generated positive net profit in each of its first six financial years, successfully navigating the challenges of the COVID-19 environment and subsequent global supply chain disruptions while continuing to execute on its investment strategy.
Since its launch in 2019, SRF has deployed more than J$18 billion into real estate investments across 28 assets, while generating J$4.18 billion in cumulative net profits and achieving a 1.81x residual value to paid-in capital. The company has also successfully completed thirteen investment exits, underscoring its disciplined approach to value creation across the investment
lifecycle.
SRF’s financial performance remained strong with net profit reaching J$787.01 million, supported by gains in investment properties and growth in joint venture investments. Total assets increased to J$17.04 billion, while shareholders’ equity grew to J$9.21 billion, reflecting the continued expansion of the company’s real estate portfolio.
For the financial year ended August 31, 2025, total investment income rose to J$1.61 billion, up 92.2% year-over-year, while net investment income increased to J$1.18 billion, up 132.1 per cent. Earnings per share grew to J$2.34, representing a 142.8 per cent increase, and book value per share rose to J$26.54.
“SRF was built to unlock value in real estate through disciplined capital deployment and strategic development projects,” said David Cummings, Vice President and Head of Real Estate and Project Finance at Sygnus Capital. “Over the past six years, we have built a diversified portfolio that includes commercial, industrial and hospitality opportunities, and we are now entering a new investment cycle that will see us advance major developments such as the Lakespen Industrial Park while continuing to recycle capital from mature assets.”
One of the company’s flagship projects is the Lakespen Industrial Park, a 55-acre development in St. Catherine that is expected to play a key role in SRF’s next growth phase. The project, which broke ground in December 2025, features 46.4 saleable acres, modern infrastructure including underground electrical distribution and engineered drainage systems, and strong connectivity to both Jamaica’s north and south coast highways.
In addition to Lakespen, SRF continues to progress other strategic assets, including Mammee Bay, a 14-acre beachfront property in St. Ann, and One Belmont, a commercial office tower in Kingston, where occupancy continues to increase as new tenants come on board. These developments form part of SRF’s broader strategy to increase income-generating assets while
unlocking development value.
SRF is now in its second investment lifecycle, which will focus on accelerating the execution of key developments, expanding income-generating assets, and unlocking value through more active capital recycling. Jason Morris, Executive Vice President and Chief Investment Officer at Sygnus, said the company remains focused on strengthening its investment pipeline while expanding opportunities across the region. “Looking ahead, our strategy is centred on deepening access to flexible capital, expanding our pipeline of real estate investment notes and co-development opportunities, and evaluating new investments both in Jamaica and across the Caribbean,”
Morris said. “At the same time, we remain disciplined about harvesting gains from completed projects and redeploying that capital into new opportunities that can drive long-term shareholder value.”
SRF’s performance and forward direction are closely tied to its broader strategy of disciplined capital deployment and value creation across market cycles. Berisford Grey, President and CEO of Sygnus, said: “The first investment cycle validated our strategy, we have built a high-quality portfolio, delivered consistent profitability, and created tangible value through assets like One Belmont. As we enter our second investment cycle, the focus is clear: accelerate execution, monetise key assets, and deploy capital with precision in areas such as logistics, commercial real estate and hospitality where we have strong conviction.”
As SRF prepares for its next investment cycle, the company is also evaluating over J$3 billion in potential real estate investments, including additional real estate investment notes and partnerships with developers across the region.
