JSE LISTING
Liberty Two Degrees to gear up for acquisitions
The listing gives investors exposure to portions of some of the best performing and most resilient shopping centres in SA
Liberty Two Degrees, the highly anticipated new property listing, plans to make significant acquisitions as early as the first quarter of 2017 as it looks to provide strong returns in a slow economy. The real estate investment trust (Reit) was listed on Tuesday by the Liberty Group, giving investors exposure to portions of some of the best performing and most resilient shopping centres in SA. The Reit’s assets are valued at R8.6bn — R6bn worth of real estate and cash of R2.6bn. The R6bn makes up roughly a fifth of Liberty’s R30bn property portfolio. Investors in the fund will have exposure to portions of Liberty’s interests in iconic retail assets like Sandton City, Nelson Mandela Square, Melrose Arch and Eastgate. CEO Amelia Beattie said Liberty was working on various additions for the fund. "We want to grow this fund while providing consistent returns for investors, and we are going to be active from the get go," she said. "I think having exposure to such reliable, resilient asset...
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