Property punters will soon have another chance to invest in the real estate pipeline of a leading South African developer when the Abland-founded Pivotal Property Fund lists its R9.2bn portfolio on the JSE before the end of this year.
Pivotal, like JSE-listed developer Attacq, will be a capital growth play so it will not pay dividends.
Its portfolio consists of 33 retail and office properties, strategic land holdings near Gautrain stations in Johannesburg and Pretoria, and an extensive development pipeline. Its flagship assets are the 72,000m² Alice Lane office precinct across the road from Sandton City, a 40% stake in recently completed Cradlestone Mall on the West Rand, the Centurion Lifestyle Centre, Goldfields Mall in Welkom in the Free State and a 37% stake in an office complex being built in Lagos, Nigeria.
Pivotal MD Jackie van Niekerk said on Thursday that management hoped to list the fund, created by Abland in 2005 and trading on SA’s over-the-counter market since 2009, by the end of next month.
While Pivotal is the ninth property counter to list on the JSE since June last year, it is one of the largest portfolios to come to the market in many years, second only to Attacq…….
Read the full article here: Pivotal brings big portfolio and pipeline to JSE.
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