New Europe Property Investments (Nepi) listed on the JSE in April 2009, while Rockcastle Global Real Estate Company listed on the JSE in April 2012. Both companies have been characterised by strong dividend per share and capital growth returns and, over the years, have provided exposure to a broad and diverse offering of global property markets.More specifically, Nepi has provided exposure to Central and Eastern Europe (CEE). In 2016 73% of the company’s gross rentals were generated in Romania, 13% in Slovakia and the balance in Croatia, Czech Republic and Serbia. In 2016, Rockcastle’s major exposure was to Europe at 59% of assets, the US at 21% and the UK at 18%.Last year a key differentiator between Nepi and Rockcastle was Nepi’s 100% exposure to physical properties, while Rockcastle had a 48% gross asset exposure to listed securities. The recently concluded merger between Nepi (R59bn) and Rockcastle (R35bn) to form an entity with a near R95bn market cap weighting as of July 11 20...
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