THE Investec Australia Property Fund has floated on the Johannesburg Stock Exchange, giving South African investors an opportunity to invest in Australia.
IAPF CEO Graeme Katz said this solid property platform, combined with the fund having no gearing at the outset gives the fund head room and the springboard to aggressively seek investment opportunities.
The fund listed with an initial portfolio independently valued at $AU129.9 million comprising six logistics and warehouse properties and two high quality A-grade office buildings located in Melbourne, Canberra, Brisbane and Adelaide.
The properties were purchased from Lang Walker.
IAPF non executive director Sam Leon said the REIT is a unique offering for the South African investor to gain direct exposure to Australian real estate as well as spread currency risk.
“The fund is projected to deliver an initial return of approximately 7%, and is completely ungeared which compares favourably to its peers in the South African listed property sector,” he added.
Property Review
