Equites Property Fund, which is a real estate investment trust that focuses on warehouses and other buildings used by the logistics industry, grew its interim dividend by 20% to 54.44c, it reported on Thursday morning. Equites CEO, Andrea Taverna-Turisan, said that "the continued strong financial results are a reflection of persistent demand for modern, well-located, logistics facilities and the company’s focus on institutional tenants and sound property fundamentals." He said the company is aiming to have a property portfolio that is 25% offshore and 75% local. Equites has achieved rapid growth in its property portfolio, from R1bn at listing in June 2014 to R5.9bn in just over two years. Equites created a strategic partnership with listed group Attacq to pursue industrial developments, initially resulting in the acquisition of eight completed industrial properties for R733m at Waterfall City, Midrand, at an acquisition yield of 8% and an average lease expiry profile of 8.4 years. I...
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