Equites Property Fund gears for JSE listing

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Equites Property Fund CEO, Andrea Taverna-Turisan said that they were excited to bring such a top quality portfolio to investors. Equites Property Fund CEO, Andrea Taverna-Turisan said that they were excited to bring such a top quality portfolio to investors.

Equites Property Fund Limited, whose portfolio of 17 Western Cape-based industrial and office properties valued at R1.2 billion, says it plans to have its listing on the local exchange in the “industrial and office Reit’s” sector.

Despite a consolidation in the listed property sector, Equites Property Fund aims to list on the JSE on the 18th of June 2014.

Equites is following the lead of a number of funds looking to join the JSE’s listed property sector.

The announcement follows the recent listing from Freedom Property Fund which listed on the main board of the JSE last week. Freedom has an asset base valued at R1,56 billion in the office, industrial and residential sectors.

The combined market capitalisation for the JSE’s listed property stocks is about R280 billion.

Equites is a property investment fund manager and developer, focused on industrial assets with a selective exposure to office property.

Its portfolio of 17 industrial and office properties, is valued at R1.2 billion based in Western Cape. The fund is internally managed.

Equites is structured as a Real Estate Investment Trust (REIT). The Reit structure is replacing the sector’s old property loan stock and property unit trust structures and creates a uniform tax dispensation for the South African listed-property sector.

 Equites’ chief executive officer Andrea Taverna-Turisan said that they were excited to bring such portfolio to investors.

The portfolio properties are situated in prime locations, have very low vacancies with occupancy in excess of 97% and at least 77% of the portfolio has leases for longer than three years, with healthy escalations averaging 8.1%.

Major tenants include Simba, Foschini, Execujet, Digistics, Imperial, Puma, UTI (Adidas), Avery Dennison, Courier-IT, Kuehne & Nagel AG, NGK Ceramics, Dole USA and Barloworld.

The fund has a pipeline of significant A-grade industrial developments and plans to also expand into prime logistics zones in Gauteng and the greater Durban area in KwaZulu-Natal over the medium term.

The Equites listing is the result of a decision by three Cape-based property groups, the Cape Town International Airport based consortium led by Jonny Cullum, Kevin Dreyer and Alex von Klopmann, the Swish property group founded by Giancarlo Lanfranchi and Chiluan Holdings founded by Andrea Taverna-Turisan, to align interests, merge their property portfolios into a single property group.


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