Real Estate Investor Magazine South Africa June 2018

LISTED Making sense of REITs A South African REIT is a listed property investment vehicle that is similar to internationally recognised REIT structures from around the world. Listed Company REITs or Trust REITs are publicly traded on the JSE REIT board and qualify for the REIT tax dispensation. EQUITES PROPERTY FUND CEO: Andrea Taverna-Turisan About the fund Andrea graduated with a BSc Hons degree in Mathematics and Manage- ment from King’s College, London. He immigrated to South Africa in 1995 and initially worked as a Commercial Proper- ty Broker in Bellville. Equites is the first specialised industrial REIT on the JSE and gives investors pure exposure to modern logistics properties. The company listed with 17 high quality properties on 24 June 2014, which had grown to 52 by 28 February 2017 through a series of enhancing acquisi- tions and developments. The management team has a proven ability to develop modern ‘Big Box’ distribution assets internally, which leads to significant shareholder value creation. These assets are almost exclusively tenanted by blue chip tenants on long leases, which include Simba (Pepsico), Kuehne & Nagel, Puma, DSV, Tesco, Amazon, East Balt, Foschini, Execujet, Digistics, Imperial, Avery Denison, Triton Express, Premier Foods and Barloworld. His intimate knowledge of the industrial market, and ability to research and find opportunities, market, build and man- age all his properties in-house, has resulted in Andrea being able to outperform his competition and secure long term A-grade income tenants in the Cape Town industrial market. Andrea was also previously involved in an offshore property company, which focused on ‘Big Box’ logistics assets in the United Kingdom. Results for year ended 28 February 2018 • Growth in distributions per share of 12.2% over the com- parative period to a total of 123.86 cents per share for the year ended 28 February 2018 • NAV per share growth of 8.8% from R14.12 to R15.36 for the year • 30% growth in fair value of property portfolio from R6.2 billion to R8.1 billion (including assets held for sale at year end) • R1.015 billion capital raised through an accelerated book-build in August 2017 • Further expansion into the UK through the acquisition of a completed warehouse in Coventry and entering into two development funding agreements for the construc- tion of warehouses in Reading and Peterborough • Increase in acquisition and development pipeline to R1.8 billion at year end • Introduction of Dividend Reinvestment Programme • LTV of 23.5% 40 JUNE/JULY 2018 SA Real Estate Investor Magazine

Real Estate Investor Magazine South Africa June 2018 | Page 42