SPECIALIST LOGISTICS PROPERTY FUND
Equites eyes more UK industrial properties in R2bn acquisition drive
Industrial property stock Equites is on an aggressive growth path, eyeing acquisitions worth more than R2bn, which it wants to make in the UK before March next year. The group, which has a market capitalisation of R8bn, plans to grow its asset base by at least 20% each year for the next few years. CEO Andrea Taverna-Turisan says many of its buying opportunities are in the UK. Equites is the only specialist logistics property fund listed on the JSE. It owns warehouse-type properties in SA and the UK and services blue-chip companies’ distribution needs. The company received about R800m last week through a capital raise, some R300m ahead of its target. The CEO said that fund managers had recognised that Equites had "connectivity to industrial deals in the UK that no other South African funds could get a crack at". "We were pleased to get such a positive response from the market. We have a built a platform that really stands out in the UK. Before we listed we had professionals learning ...
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