Investec Property Australia, a division of Investec Bank (Australia) Limited intends to list Investec Australia Property Fund (“IAPF”) on the Johannesburg Stock Exchange (“JSE”). The Fund, which is expected to list on 24 October 2013, will be listed under the Real Estate Holdings and Development sector.
Sam Leon, Non-Executive Director of Investec Australia Property Fund
Sam Leon, Non-Executive Director of IAPF, said: “Investec Australia Property Fund is a unique investment opportunity, offering South African investors direct exposure to the Australian property market and currency. The objective of the Fund is to invest in high quality, sustainable and well diversified real estate in Australia. The Fund at the outset is a solid, sustainable platform that is well positioned for growth.”
IAPF is an Australian domiciled real estate investment trust (“REIT”) with a property portfolio which consists of a diverse mix of industrial and commercial assets (eight in total) located across Australia. The properties are well located in major metropolitan cities or established commercial precincts in Australia and have long-term leases and quality tenants in place. Furthermore, the Fund will be managed by an experienced and entrepreneurial management team on the ground in Australia.
Graeme Katz, CEO of Investec Australia Property Fund, said: “The Australian property market has attractive opportunities and with a long term view, we are confident in the Fund’s ability to enhance value and deliver sustainable returns and long term capital growth for prospective unitholders.”
The Fund’s board comprises of an experienced team, with a mix of South African and Australian members.
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