Liberty Two Degrees is ‘well positioned’ for year ahead
Liberty Two Degrees (L2D) has declared a distribution of 4.85c a share for its first month of trading, with its management saying the group is well positioned for the year ahead. L2D is the Liberty Group’s listed property vehicle. It has a market capitalisation of R9.37bn and its assets include portions of the Sandton City complex, Eastgate complex, Melrose Arch, Liberty Midlands Mall and Nelson Mandela Square. "Following the successful listing of L2D as a real estate investment trust (Reit) on the JSE on December 6 2016, we believe we are well positioned to execute on the strategy we set out for 2017. Management believes in the strategic approach of investing in high-quality assets that remain resilient during tough economic cycles and look forward to deploying capital raised during the listing to acquisitions identified and the developments on the ground," said CEO Amelia Beattie on Thursday. L2D’s net asset value sat at R9.64 at the end of December. It listed at R10 and was tradi...
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