DIVERSIFIED PROPERTY COMPANY
SA Corporate rises on good leadership
The company has an exciting investment pipeline, especially related to residential property
Rory Mackey has reshaped SA Corporate Real Estate Fund from a struggling company into a well-run property fund. Since internalising its management company and rationalising its portfolio under Mackey, the company’s focus has improved. It was the third-best performing property stock on the JSE in 2016 with a total return of 32.55%. Recently, the diversified property owner increased its full-year distribution 8.7% to 43.02c per share for its 2016 financial year, in tandem with the better listed performers in the sector. Its board said last week that it was expecting distribution growth of between 6% and 8% for the 2017 financial year to December. The company has an exciting investment pipeline, especially related to residential property. In 2016, SA Corporate and developer Calgro M3 formed a joint initiative through Afhco, a wholly owned subsidiary of SA Corporate, and Hizoscape, a wholly owned subsidiary of Calgro M3, renamed Calgro Real Estate. Calgro M3 MD Wikus Lategan sees Calgro...
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