We identify large investment grade property opportunities across the retail, industrial and office sectors.
Investec Property Fund Limited launched as a variable loan stock company on the JSE on 14 April 2011 in the real estate holding and development sector. The fund initially listed with a a total market capitalisation of R1.7 billion and comprised of an initial property portfolio of 29 properties that had been independently valued at R1.77 billion.
The objective of the Fund is to grow its asset base by investing in well-priced income producing properties to optimize capital and income returns over time for Linked Unit Holders. At listing the fund was un-geared providing significant gearing capacity to grow the property portfolio.
Since listing the fund has announced the acquisition of a further four properties into the portfolio for total purchase consideration of approximately R450 million, all to be funded using debt. Following the conclusion of these acquisitions the property portfolio will comprise 33 properties valued at around R2.22 billion.
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Our Vacancy Schedule can be viewed here.
