COMMERCIAL PROPERTY
Vukile set for expansion into UK and Europe
Having established itself as a retail-focused real estate investment trust (Reit), Vukile Property Fund is turning its attention to an offshore expansion. The internally managed Reit, with a property asset base of R16bn, owns a direct retail-focused portfolio in SA and an indirect portfolio of Reits. Its Reit investments include the local retail-focused Fairvest Property Holdings and the UK-focused Atlantic Leaf Properties. Vukile’s international investment strategy began with the acquisition of 26% in Atlantic Leaf. This JSE-listed company was formed by South Africans who invested in various commercial properties in the UK. Vukile CEO Laurence Rapp said Atlantic Leaf had provided Vukile with a richer understanding of European markets. His management was looking at more opportunities in the UK and western Europe. It had considered investing in North America but had decided not to for the foreseeable future. "Atlantic Leaf provides the perfect launchpad to deepen our international ex...
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