INDUSTRIAL-focused Equites Property Fund is competing with large property groups such as Fortress Income Fund, Equites CEO Andrea Taverna Turisan said."Our tenants are blue-chip groups looking to store and distribute their goods. They want the best services in these fields and we offer those as Equites. Fortress, which is a much larger fund than us and has some exposure to industrial assets but also other property types, competes with us in the industrial market. Therefore we are competing for the best tenants at the top of the market," said Taverna-Turisan.Since listing in 2014, Equites has bulked up its portfolio of modern warehousing and distribution units, which are backed by long-term leases with blue-chip tenants.Equites listed at R10.30 a share in June 2014. It closed on Tuesday at R14.50 a share; meaning it had grown 41% since listing. It has a market capitalisation of about R4bn. Fortress, meanwhile has market capitalisation of about R51bn when its A and B shares are added ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.