Real Estate Investor Magazine South Africa REIM February 2018 | Page 38

LISTED Making sense of REITs TOWER PROPERTY FUND A Head of fund and title Marc Edwards (CEO) • own at least R300 million of property • keep its debt below 60% of its gross asset value • earn 75% of its income from rental or from property owned or investment income from indirect property ownership • have a committee to monitor risk • not enter into derivative instruments that are not in the or- dinary course of business • pay at least 75% of its taxable earnings available • for distribution to its investors each year Indluplace is focused on the owning and growing a substan- tial residential portfolio from which it will pay distributions to shareholders. Indluplace listed in June 2015 and is the largest REIT focused on residential properties. SPEAR REIT Head of fund and title Carel de Wit (CEO) South African REIT is a listed property investment ve- hicle 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. A JSE-listed SA REIT must: Spear REIT Ltd listed as a Real Estate Investment Trust (“REIT”) on the AltX of the Johannesburg Stock Exchange (“JSE”) on 11 November 2016. Its main business is the invest- ment in high-quality income-generating real estate across all sec- tors within the Western Cape, predominantly in the Cape Town region. The company conducts its business directly and through a number of subsidiaries, collectively referred to as the “Group”. The company’s property and asset management functions are internally and directly managed by the Spear executive management team. Who Manages the Fund Spear SOUT H AFRIC AN www.reimag.co.za SO UT H AF RI CA N www.reimag.co.za © H SO UT N AF RI CA www.r eimag. © co.za © YOUR FI FREEDO NANCIAL RISK VS RETURN OLIO Getting a foo M GUIDE property thold Property WORL YOUR Hotspot D s PORTF Abound ladder on the COMMERCIAL TRENDS Multiple Opportunities SMART Cape Town CBD Spike REAL ESTATE TECHN PR Ma New Disruptors in the OLOGY ke more mo OPERTY M t Game AR ney in Trans the Investmen Game 2017 KETE form OFFSHO Master PROPE RS Your Wealth RE RTY PRACTITIONE UK R’S & US BILL Inves Major Changes e Midas Touch MIK W E ARREN ER WINN 1 0 9 AWAR 0 6 ALISM r Acce Greate SAPOA . VAT) 00 (Incl 7 MAY 201 R80. 0 0 9 655001 9 771995 05 001 655 995 9 771 JOURN Property Year of the Publication & 2015 2013 ROBER HE T WEALT H PROT 7 Habit ECTION s of FL BU A FF X ETT KIYOSA MA KI S R H MAN WINNER SAPOA JOURNALISM R80.00 (Incl. VAT) DS Afoot JULY 2017 R80.00 (Incl. VAT) 2017 WINNER SAPOA JOURNALISM Property 9 771995 655001 tor Frien dly Ma rkets AWARDS 06091 AWARDS Property Publication of the Year 2013 & 2015 AUGUST Publication of the Year 9 771 995 2013 & 2015 655 001 R80.00 08 (Incl. VAT) 09 3 Gearing (%) 39% INDLUPLACE Who Manages the Fund Indluplace Number of properties in fund 125 Total asset value R2.9b Market Capitalisation R2.8b Gearing (%) 6.8% STOR-AGE Stor-Age is the largest and most recognisable self storage prop- erty fund and brand in South Africa, and the first and only self storage REIT listed on any emerging market exchange. Who Manages the Fund Stor-Age Head of fund and title Gavin Lucas (CEO) Head of fund and title Mike Flax (CEO) with th VESTOR Gifted EAT IN E A GR n IN PROPERTY BECO st M Practices to Wi YOUTH Claiming ATUS their Space ST 6 Be NK MY OF JU ? ING SA’S TICE ECONO IMPA spec CT ts for Property GROW Cities ST of PR ho Two AC Pro L BE A Tale es re ATION n’s For ATIONA pe Tow PROPERTY TECH INNOV INTERN p Properties ining Ca Showcasing SA’s Townshi Reimag GY hts R: LO TO NO rty Rig DISRUP HAIN TE JUNE d CH Tit 2017 les and Prope BLOCKC ss to Lan Market Capitalisation R2.5b Gearing (%) 13.9% Gearing (%) 37.23% © Total asset value R5b Market Capitalisation R3.4b Market Capitalisation R1.66b co.za Number of properties in fund 49 Total asset value R3.6b Total asset value R2.9b eimag. www.r Who Manages the Fund Tower Asset Managers Number of properties in fund 48 Number of properties in fund 31 SOUT H AFRIC AN Tower owns a diversified portfolio in South Africa and in Croatia, representing 69% and 31%, by value, respectively. The South Af- rican portfolio is spread across the Western Cape (26% by value), Gauteng (33% by value) and KwaZulu-Natal (10% by value). SAPOA Effectiv Highly e Truste es Fixing up WINN JOURN ER ALISM AWAR DS Prope Publication rty of 2013 & the Year 2015 ABA Jozi Take your business or development to the next level Advertise in a leading property magazine. Contact Roy at: [email protected] [phone]