Real Estate Investor Magazine South Africa February 2014 | Page 12

MASTER INVESTOR
De Beer wanted to list his own property
company while still at NIB. He had little desire
to work for a commercial investment bank, but
he was open to the possibility of partnering
with NIB. The company was not keen initially,
so de Beer resigned to do it on his own. But
on his last day at NIB, the company agreed
to partner with him, with one proviso - that a
BEE partner was brought onboard. Kagiso was
selected as the BEE partner, and along with an
ex-client, Jeff Zeidel, and an army friend, Barry
Stuhler, De Beer founded Resilient. He became
an executive director of Resilient Property
Income Fund Ltd and Diversified Property
Fund Limited in July 2002.
De Beer was a lso instr umenta l in the
formation and listing of Acucap Properties,
which was initially intended to be the blue chip
fund, with Resilient positioned as the high
yielding fund. But this changed quickly as the
poorer performing properties were sold in the
right cycle.
De Beer served as an independent nonexecutive director of Acu