Investec Property Fund (IPF) has come a long way since it listed on the JSE in April 2011. The value of the fund has grown from R1.7bn at listing to R18.8bn currently, which includes a R1.4bn investment in Investec Australia Property Fund (IAPF). The SA portfolio comprises 119 properties with a total gross lettable area (GLA) of 1,274,323m².IPF is an SA real estate investment trust (Reit) with a property portfolio weighted 39% to offices, 23% to industrial and 38% to retail. IPF’s office portfolio is 98% let, with 65% being multitenanted buildings. The industrial portfolio comprises 72% logistics-focused properties, with only 11% exposed to manufacturing.The fund’s exposure to the Australian real estate market is through a strategic 22.9% stake in IAPF, comprising 7% of the fund’s balance sheet assets as at March 2017. IAPF has a property portfolio of 24 assets valued at A$779. Taking into account the fundamentals driving the Australian property market, IPF intends to remain a stron...
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