TRADE OF THE MONTH: Equites and Liberty Two Degrees
Equites and L2D present different perspectives
Equites Property Fund, the JSE’s only specialist industrial real estate play, continues to impress. Since listing in June 2014, Equites has grown its portfolio carefully and now owns various properties with blue-chip tenants who have signed long leases. This real estate investment trust (Reit) is managing to enhance its earnings and assets simultaneously. Equites appeals to investors who are seeking specialisation. Most property funds tend to own a mix of office and retail properties but Equites has carefully selected industrial assets. The company joined the JSE with a portfolio of 17 Western Cape-based properties valued at about R1.2bn. The company has since expanded rapidly to own more than R6bn. The company also ventured overseas early on. CEO and one of its founders, Andrea Taverna-Turisan, spent some time studying and working in the UK and, last year, Equites acquired high-quality distribution centres there. The other founders were Giancarlo Lanfranchi and the consortium of Ke...
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