Real Estate Investor Magazine South Africa August 2018 | Page 35

LISTED
Sirius Real Estate Limited
About
One of the largest branded providers of mixed-use
flexible workspace in Germany, Sirius Real Estate Limited
is a real estate company with a portfolio of 54 business
parks owned or managed across Germany, providing a
combination of conventional and flexible workspace.
CEO: Andrew Coombs
Andrew Coombs joined the
Sirius Facilities Group in Janu-
ary 2010. Prior to joining Sirius,
Andrew worked for the Regus
Group as UK sales director and
before that as director and
general manager for MWB
Business Exchange Plc. Prior to
working in the property sector, Andrew held a number
of general management roles.
Tower Property Fund CEO: Marc Edwards
About Marc is the founding Chief
Executive Office of Tower. Marc
has a long history in the prop-
erty industry and is well known
in the South African and
Croatian property industries.
Marc is a Director of various
Tower group companies and a
shareholder of Spire Property
Group (Pty) Ltd.
Tower is an internally managed real estate investment
trust (REIT) which owns a diversified portfolio of 46 con-
venience retail, industrial and office properties valued
at R4.9 billion, located in South Africa and Croatia. The
South African portfolio is located in the country’s major
metropoles with 43% by value in Cape Town, 43% in
Gauteng and 14% in KwaZulu-Natal. The five Croatian
properties represent 28% of the fund’s total value. The
fund currently has a sectoral spread by value of 46%
convenience retail, 47% office and 7% industrial.
Financial highlights (31 May 2018)
• Distribution of 40.3 cents per share representing 5%
growth from corresponding period
• Distributable earnings of R266 million
• Portfolio at 46 properties after the continued sale of
non-core assets
• Portfolio value of R4.9 billion
• Market capitalisation of R2.3 billion
• Loan-to-value of 39%
• Net asset value of R9.68 per share
• Properties sold or in the final process of sale of R247
million