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JSE self storage REIT, Stor-Age, today announced that it had raised R400 million in a significantly oversubscribed book build to fund its milestone acquisition of Storage RSA (“RSA”), one of the country’s largest private self storage operators.
JSE newcomer Stor-Age Property REIT today announced strong interim results for the six months to September 2016, declaring a dividend of 43.04 cents, outperforming the Prospectus forecast by more than 6%.
Stor-Age Property Reit acquired a smaller competitor as it looks to increase its scale, having grown organically in the past.
JSE newcomer Stor-Age - South Africa’s largest self storage property fund - today posted maiden annual results outperforming its pre-listing forecasts and reflecting its recession-resilient business model and product.
JSE newcomer Stor-Age Property REIT has followed its November 2015 listing debut with strong growth momentum, despite the current turbulence in the local economy.
South Africa’s largest self storage property fund, Stor-Age Property REIT Limited (“Stor-Age”), successfully debuted on the JSE following a substantially oversubscribed pre-listing capital raise.
South Africa’s largest self-storage property fund, Stor-Age Property REIT, is set to list on the JSE in November as the first REIT of its kind on the exchange.
Stor-Age announced it has concluded the acquisition of eight of the nine trading self storage properties within the Public Storage portfolio in Pretoria.