BUSINESS DAY TV: Sector is extremely buoyant, evolving and expanding
Andrea Taverna-Turisan is Equites CEO.
BUSINESS DAY TV: Equites Property Fund has reported a 14% rise in its full year distributions to just over 110c while its net asset value per share came in 9.1% higher. And a successful accelerated book-build in November has seen the group end the year with a loan-to-value of 21.2%. Its CEO, Andrea Taverna-Turisan, joins us now in studio with more detail. Andrea, so Equites, of course, the only specialist logistics property fund listed on the JSE and your growth coming within a very stagnant economic environment in SA right now. So what kind of activity are you seeing in the logistics space? ANDREA TAVERNA-TURISAN: It’s definitely softened from two to three years ago. That’s on the development side which is a little bit softer. However, on the acquisitions side we’ve had a very successful year last year and we’re quietly confident with the capital raise that you mentioned in November, our balance sheet [is] looking particularly strong. We’ve got about R1.5bn of undrawn facilities on...
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