DIVERSIFIED Arrowhead Properties has expanded its exposure to retail shopping centres by acquiring 9.76% of Rebosis Property Fund for R547m in line with its strategy to acquire assets on a yield-enhancing basis.
Arrowhead has grown its assets from less than R800m at listing in 2011 to more than R9bn, largely through acquisitions, and has been eyeing strong retail assets for a number of months.
The group’s strategy is to buy assets outright or invest in group’s with strong portfolios.
It already owns a stake Dipula Income Fund, which has exposure to retail assets.
Mark Kaplan, chief operating officer of Arrowhead, said buying into Rebosis was a strong move.
"The transaction increases our exposure to a good quality portfolio of assets. Arrowhead remains lowly geared with no capital commitments that enables us to take advantage of good opportunities in a challenging economic environment," said Mr Kaplan.
He and his team have been looking to acquire higher quality retail assets. Rebosis last year began to shift its focus to retail properties.
It’s shifting its government-tenanted offices gradually into subsidiary Ascension Properties as it looks to attract retail-hungry investors.
Sisa Ngebulana, CEO of Rebosis, said the deal showed that Rebosis had lauded assets.
"This investment affirms the view that Rebosis’ portfolio is of a superior quality, trading at an unjustifiable discount," he said.
Mark Kaplan. Picture: FINANCIAL MAIL
DIVERSIFIED Arrowhead Properties has expanded its exposure to retail shopping centres by acquiring 9.76% of Rebosis Property Fund for R547m in line with its strategy to acquire assets on a yield-enhancing basis.
Arrowhead has grown its assets from less than R800m at listing in 2011 to more than R9bn, largely through acquisitions, and has been eyeing strong retail assets for a number of months.
The group’s strategy is to buy assets outright or invest in group’s with strong portfolios.
It already owns a stake Dipula Income Fund, which has exposure to retail assets.
Mark Kaplan, chief operating officer of Arrowhead, said buying into Rebosis was a strong move.
"The transaction increases our exposure to a good quality portfolio of assets. Arrowhead remains lowly geared with no capital commitments that enables us to take advantage of good opportunities in a challenging economic environment," said Mr Kaplan.
He and his team have been looking to acquire higher quality retail assets. Rebosis last year began to shift its focus to retail properties.
It’s shifting its government-tenanted offices gradually into subsidiary Ascension Properties as it looks to attract retail-hungry investors.
Sisa Ngebulana, CEO of Rebosis, said the deal showed that Rebosis had lauded assets.
"This investment affirms the view that Rebosis’ portfolio is of a superior quality, trading at an unjustifiable discount," he said.
Change: -1.03%
Change: -1.14%
Change: -0.52%
Change: -1.01%
Change: -2.14%
Data supplied by Profile Data
Change: -0.01%
Change: 0.20%
Change: -1.03%
Change: 0.00%
Change: -0.09%
Data supplied by Profile Data
Change: -0.51%
Change: -0.27%
Change: -0.43%
Change: -0.44%
Change: -0.70%
Data supplied by Profile Data
Change: 1.20%
Change: 2.65%
Change: 0.20%
Change: 0.18%
Change: -2.74%
Data supplied by Profile Data