Arrowhead Properties lists on the JSE

Imraan Suleman, CFO (left), Gerald Leissner, CEO (centre) and Mark Kaplan, COO (right) of Arrowhead

Property loan stock company Arrowhead Properties is set to list on the JSE's main board on Friday 9 December.

Arrowhead, a wholly-owned subsidiary of Redefine Properties until the repayment and the unbundling, said its main focus would be on paying growing income returns to its investors. 

Arrowhead has acquired 89 properties from Redefine, spread across the retail, office and industrial sectors in SA. 

The JSE has granted Arrowhead a primary listing of 84 839 675 A-linked units and 84 839 675 B linked units. 

The A linked units will cater for more risk averse investors and will earn 60 cents per unit per annum, or 50% of the income distributed per annum, whichever is the greater. 

The B linked units will cater for those investors with a larger risk appetite and will earn the balance of the distributable income estimated to be 38.38 cents per unit for the year ended September 30, 2012. Distributions will be made quarterly. 

Arrowhead CEO Gerald Leissner said that the sale of property by larger funds had provided an opportunity for Arrowhead to assert itself in the sector.