CEO of diversified real estate group Arrowhead Properties, Mark Kaplan, has said that while his fund would like to become involved in consolidation in the listed property sector again, its choices are limited because it doesn’t want to acquire offshore assets in the process. Arrowhead has been an aggressive acquirer of assets for the past few years, but it is now choosing to sweat its existing portfolio in a challenging operating environment. "I think the listed property sector needs consolidation, but it hasn’t come. There are a number of smaller funds with good South African assets, but many of these funds have also bought assets offshore and our strategy is to invest in SA only," said Kaplan. He was speaking at the release of the company’s financial results for the six months to end-March. The group’s dividend per share dropped 6.5% in the period compared to the same period a year earlier, as Arrowhead rebased its dividend pay-out. This was in line with expectations and with fore...

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