Investec Property Fund Limited has awarded the contract for the property management of a portion of its portfolio to Broll, effective from 1 July 2014.
Investec Property Fund Limited is a JSE-listed REIT (Real Estate Investment Trust) invested in a portfolio of 61 properties across South Africa valued at R6 billion, of which Broll will manage 52 properties on a national basis.
The objective of Investec Property Fund is to grow its asset base by investing in well-priced income-producing properties in the office, industrial and retail sectors to optimise capital and income returns over time for investors. Effective and proactive property management in this growing portfolio is crucial for achieving the fund’s performance goals.
For Investec Property Fund, this contract puts a portion of its property management in the skilled hands of one of South Africa’s most respected property managers. Broll manages properties for a further nine listed property funds, with its unique understanding of the dynamics and key drivers for portfolios in this sector.
For Broll, receiving the property management contract for the Investec Property Fund portfolio brings its total assets under management across all service lines to R94 billion, of which 20 percent is outside the borders of South Africa.
Malcolm Horne, CEO of Broll says, “We’re proud to be awarded the Investec Property Fund property management contract. This prestigious REIT invited Broll to tender for the property management with another service provider and we were impressed with the thoroughness and vigour it applied to the tender process. These are qualities we understand and appreciate in a management partner relationship and we are most appreciative that we have secured this business. We look forward to delivering great service to Investec Property Fund from 1 July 2014 and exceeding their expectations.” Our property management division has secured new business valued at over R25bn during the last 24 months.
Delivering specialised services and solutions in the property sector, Broll is fast becoming Africa’s leading commercial property services group. Adding to its unique holistic property services solution proposition Broll’s CBRE international affiliation provides exposure to global market trends, innovative ideas and multinational corporate tenancies.
“We are ready to put Broll’s knowledge, skills and experience into action to assist Investec Property Fund to achieve its performance and growth objectives. We look forward to creating a long-term, mutually beneficial and value-adding partnership with Investec Property Fund,” states Horne.