FOR IMMEDIATE RELEASE
PRESS RELEASE
NOVEMBER 17, 2025
SYGNUS REAL ESTATE ACHIEVES EXCEPTIONAL FYE 2025 PERFORMANCE, ENTERS 2ND INVESTMENT LIFE CYCLE AS LAKESPEN PROJECT ADVANCES DESIGN PHASE
(Kingston, Jamaica) – Sygnus Real Estate Finance Limited (SRF) delivered an exceptional financial year for the period ended August 31, 2025, marking the start of the company’s second investment life cycle. The company distinguished itself in Jamaica’s real estate investment sector by completing multiple high-value acquisitions, nearly doubling the value of investments exited, and delivering a substantial increase in profitability. SRF also delivered its first dividend and advanced the design phase of the Lakespen Industrial development, with construction targeted for early 2026, representing a key step forward for one of its major real estate projects.
SRF posted a 92.2% increase in total investment income, rising to J$1.61 billion from J$839.24 million in 2024. Net profit attributable to shareholders more than doubled to J$787.01 million, compared with J$315.08 million last year, driving earnings per share to J$2.34. Shareholders’ equity increased to J$9.21 billion, up from J$8.12 billion, while book value per share rose 6.8% to J$26.54, the highest value since the company’s listing.
Net investment income rose 132.1% to J$1.18 billion, driven by gains on investment property, joint ventures, and acquisitions. The weighted average fair value yield on REINs improved to 9.6%, reflecting SRF’s strategic realignment toward higher-yielding, income-generating opportunities. Operating expenses grew in line with the expanding portfolio and transition to the second investment life cycle, resulting in an efficiency ratio of 26.8%, well below the 45% target.
Transformational Year Marked by Strategic Growth & Portfolio Expansion
During FYE August 2025, SRF executed several major milestones that set the stage for accelerated growth. The company advanced the design phase of the 55 acre Lakespen Industrial development, paid its first dividend and completed the strategic acquisition of 86% of Delphin Holdings Limited (DHL), owner of a 4.9-acre prime property in New Court, Trelawny, located near major hospitality developments including Royalton, Riu Aquarelle, Planet Hollywood, and Excellence.
Throughout the year, SRF deployed over J$2.66 billion in capital, including J$927.04 million in new real estate investment notes (REINs), and nearly doubled the value of investments exited to J$2.01 billion.
Portfolio Highlights
SRF made significant progress across its key assets. The One Belmont commercial tower in Kingston is fully constructed, achieving its second tenant occupancy, while additional tenants
continue interior build-outs, and monetisation of the partial exit is progressing toward FY 2026. The Lakespen industrial project in St. Catherine advanced through the design and regulatory process, with construction targeted for early 2026, representing one of Jamaica’s largest industrial development opportunities. At Mammee Bay in St. Ann, value creation efforts continued on the 14.4-acre beachfront property, with ongoing negotiations and approvals aimed at maximising its long-term potential. Additionally, Delphin Holdings Limited in Trelawny saw preliminary design concepts initiated for the newly acquired 4.9-acre hospitality/residential parcel strategically positioned in Jamaica’s tourism corridor. These initiatives contributed to SRF’s real estate investment portfolio growing 13.2% to J$16.63 billion, spanning 15 investments across hospitality, industrial, commercial, and residential categories.
Jason Morris, Executive Vice President and Chief Investment Officer of Sygnus, stated, “The last two financial years were a defining period for SRF as the company successfully navigated between its first and second investment life cycles. During this transition period we delivered on key strategic milestones, maintained a robust average return on equity of 17.5% since inception, and expanded book value per share to J$26.54, the highest level since becoming a public company. These results affirm the strength of our business model and our ability to unlock value from high-potential real estate assets. As we advance our second investment life cycle, we remain laser-focused on scaling our REIN portfolio, accelerating strategic developments like Lakespen and Mammee Bay, deepening access to flexible capital across the Caribbean, and returning capital to shareholders in the form of dividend distributions.”
###
About Sygnus
Sygnus is a leading alternative investment firm in the Caribbean and Latin America, dedicated to driving economic development across the region through creative and innovative financing solutions. By offering a range of investment alternatives, including private credit, real estate financing, private equity and impact investing, Sygnus addresses unmet demands, unlocking capital for growing enterprises and playing a pivotal role in regional economic growth. The cutting-edge alternative investment (AI) platform is fueled by transformative strategies designed to accelerate development across the Caribbean and Latin America. This platform is backed by a team of forward-thinking experts who craft tailored solutions for our clients, complemented by dedicated investment banking and wealth management services. Sygnus also provides specialised services in Puerto Rico through Sygnus Capital PR LLC, formerly known as Acrecent Financial. As of December 2023, the company expanded its offerings, reaffirming its commitment to delivering innovative and personalised financing solutions that foster the island’s economic growth.
