LIBERTY — which has investments in some of Gauteng’s most well-known retail centres including Sandton City, Melrose Arch, Nelson Mandela Square and Eastgate — intends to list part of its premium property portfolio on the JSE as a real estate investment trust (Reit) in December. The Reit, Liberty Two Degrees, will have R10bn in assets, exposing JSE investors to various iconic malls for the first time. As much as R6bn will be accounted for by portions of Liberty’s current properties and R4bn by new capital. The listed Reit will hold the portion of the Liberty property portfolio assets in a co-ownership arrangement with Liberty. This will help the Reit to increase its share in properties of which it owns a portion. Larger portions of the properties in the Liberty Group’s overall R30bn portfolio and its pipeline, which includes African developments, could be brought into Liberty Two Degrees in the future, head of Stanlib Direct Property Investments Amelia Beattie said. Beattie, who is t...
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