Resilient Property sees rise in distributions

Resilient Property Income Fund (RES) CEO Des de Beer

Resilient Property Income Fund (RES) linked unitholders were advised on Monday that that the company anticipates that the distribution per linked unit for the six months ended December 2013 will be between 17% and 19% higher than that for the six months ended December 2012.

This is mainly a result of turnover rent significantly exceeding budget and the weaker Rand which positively impacted on dividends from Resilient’s foreign investments‚ it said.

Resilient’s results will be published on or about 5 February 2014.

The Resilient family firms, which hold stakes in each other, include Resilient Property Income Fund, Capital Property Fund, Fortress Income Fund, New Europe Property Investments (Nepi) and Rockcastle Global Real Estate Company.