Business
Investec joins the rush to add offshore property to its assets
At least 45% of the exposure of property companies listed on the JSE is offshore. This could soon rise to 50%
By the end of 2021 half of the assets of Investec Property Fund (IPF) (https://www.sharenet.co.za/v3/quickshare.php?scode=IPF) could be offshore. The company just announced that it has increased its European exposure through buying the shares it didn’t already own in a property-focused logistics business platform.
European logistics assets are enticing enticing for IPF because they promise double-digit returns each year over the next five.
IPF would invest €191m (about R3.1bn) through its wholly owned subsidiary Investec Property Fund Offshore Investments (IPFO), which owns 42.9% of the platform, growing the stake to 75%. A new equity partner will buy the remaining 25% stake in the platform...
You have reached the end of the Edition.
This article is reserved for Sunday Times Daily subscribers.
A subscription gives you full digital access to all Sunday Times Daily content.
Already subscribed? Simply sign in below.
Questions or problems?
Email helpdesk@timeslive.co.za or call 0860 52 52 00.