Amat Victoria Curam — Victory Loves Preparation
Building Wealth Through Multifamily Housing
Lordwick Real Estate is a Johannesburg-based multifamily investment firm focused on value-add rental housing and sustainable community development.
2.5x
Target Equity Multiple
7–10%
Targeted Annual Yield
5 Yrs
Holding Period
25.6%
Levered IRR (Mahlathini)
Our Vision
South Africa’s Leading Multifamily Investment Firm
To become South Africa’s leading multifamily investment firm delivering sustainable rental communities that elevate lives, strengthen cities, and create enduring value for investors and residents alike.
Our Mission
Value-Add Strategy & Ethical Stewardship
We identify, acquire, and transform underperforming rental properties into high-quality, income-generating assets through disciplined value-add strategies, ethical stewardship, and measurable socio-economic impact.
What Drives Us
Core Values
Integrity
We act with honor, transparency, and accountability in every partnership.
Diligence
We prepare thoroughly and execute with precision and discipline.
Partnership
We build lasting relationships rooted in trust and mutual value creation.
Impact
We invest in communities, creating employment, dignity, and long-term growth.
Market Thesis
Macro Tailwinds Supporting Multifamily Housing
Gauteng’s growing urban population and constrained housing supply create a compelling opportunity for multifamily investors with local expertise.
Rapid Urbanisation
68% of South Africans will live in cities by 2030, driving unprecedented demand for quality rental housing.
Declining Affordability
Home ownership affordability is declining — rental demand is rising as young professionals and essential workers seek alternatives.
High Barriers to Entry
Construction cost inflation, land scarcity in metros, and delayed municipal approvals limit new supply.
The Johannesburg Opportunity
Strong tenant demand from essential workers and young professionals in a city undergoing government-backed rejuvenation.
Our Focus
Property Classes (Local Context)
Lordwick focuses on B & C class properties where market inefficiencies and upgrade potential are greatest.
Class A
Post-2015
High-income professionals
7–8%
Core, long-term hold
Class B
1990s–2010
Mid-income earners
9–11%
Light refurb, yield focus
Class C
Pre-1990
Working class / essential workers
11–13%
Heavy refurb, repositioning
Case Study
5–7 Mahlathini Road, Newtown
Mixed-use redevelopment in Johannesburg’s Newtown district — a prime example of Lordwick’s value-add strategy.
Asset Overview
- • 4 × ground-floor retail shops
- • 4 × three-bedroom apartments
- • 8 × two-bedroom apartments
- • 2 × penthouse apartments
- • Existing MTN cellular tower (long-term revenue anchor)
Impact & Development Outcomes
Financial Overview
Detailed acquisition cost, renovation budget, total project cost and stabilisation timeline are disclosed to qualified investors upon request.
Request Investment MemorandumProjected Returns
Investment Structure
Acquisition price, equity required and full capital stack disclosed to qualified investors upon request.
“Mahlathini Residences exemplifies Lordwick’s value-add strategy — acquiring undervalued urban assets, enhancing income stability, and delivering measurable community impact.”
Investor Participation
Equity Partnership Model
Investors participate as equity partners in a specific property SPV. Lordwick acts as the General Partner (GP) — responsible for acquisition, management, and execution.
Typical Capital Stack
Local bank or private lender financing. Lordwick co-invests alongside LPs to ensure alignment of interests.
Leadership
Our Team
In-house construction management for renovations with partnerships with trusted property managers in Johannesburg and Cape Town.
Nkululeko Ndamase
Principal
Background in finance and private equity. Experience in LBOs, real estate acquisitions, and portfolio management.
Jessica Nodaka (CA) SA
Finance
Chartered Accountant overseeing financial strategy, reporting, and investor relations.
Phindile Ndamase
Legal
Legal counsel managing compliance, contracts, and regulatory matters across all investments.
Get In Touch
Join Our Investor Network
Schedule an introduction call, review our live investment memorandum, or visit one of our active properties. We’d love to discuss how Lordwick Real Estate can help grow your portfolio.
“We invest where people live and where opportunity grows.”
— Nkululeko Ndamase, Principal
or reload the browser