Equites results beat expectations
Industrial focus and expertise has stood real-estate focused fund in good stead, says CEO
Industrial real-estate focused Equites Property Fund has outperformed expectations since listing about two-and-a-half years ago, growing its portfolio from 17 properties worth R1bn to 52 valued at R6.2bn at the end of February. The group, which is the only specialist logistics-focused property fund on the JSE, released results for the year to February on Wednesday, reporting a 14% increase in full year distributions to 110.37c a share. Andrea Taverna-Turisan, the group’s CEO, said its industrial focus and expertise had stood it in good stead. "Despite facing some of the toughest economic and political challenges to date, the group remained largely insulated from market vagaries.
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