Recently listed Gemgrow Properties, a specialist high-yielding, high-growth real estate investment trust, is set to make its maiden transaction by buying a retail portfolio in Makhado. The group has agreed to acquire a portfolio comprising three properties in Makhado in Limpopo for R330m. Gemgrow was formed out of the consolidation of Synergy Income Fund and Cumulative Properties. Cumulative was formed when Arrowhead Properties spun out its smaller assets into a separate company. The acquisitions were in line with the company’s stated objective of being a high-yielding, high-growth fund with a portfolio of retail, industrial and office assets. "We’re pleased to announce the acquisition of the predominantly retail portfolio. These retail assets are placed in areas with high footfall and a strong consumer presence.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.