Broll takes over the reins at pension fund.

Posted On Wednesday, 23 July 2003 02:00 Published by
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The Joint Municipal Pension Fund (JMPF) – in existence for 80years and one of the country’s oldest – has awarded management of its property portfolio to Broll Property Group.

(Johannesburg, 23rd July 2003)  The Joint Municipal Pension Fund (JMPF) – in existence for 80years and one of the country’s oldest – has awarded management of its property portfolio to Broll Property Group.

Valued in excess of R500million, and including 30 properties with more than 210 000m² of lettable area, the JMPF has a national footprint with a strong retail focus.

The most recent addition to the Fund’s portfolio was the Hillcrest Boulevard Shopping Centre - a 12 000m² convenience centre situated in a booming residential node between Hatfield and Brooklyn in Pretoria - that was officially opened at the end of May.

“There is a strong move to smaller retail centres in the 10 000m² to 18 000m² size and the JMPF has favourable exposure to this market with a number of well-known properties in its portfolio,” said Broll chief operating officer Arnold Meyer.  “These niched convenience centres are often better able to deal with the specific needs of local shoppers and are growing in popularity.”

The move to award Broll management of the JMPF followed close on the heels of the Municipal Gratuity Fund’s decision to do the same with its property portfolio earlier this year adding a combined asset base of almost R800million to the approximately R16billion already under management.

“Broll has an established property management track record and manages portfolios for a number of institutional, corporate and private investors,” concluded Meyer.  “Our focused team of highly competent professionals is what sets us apart.”

Broll Property Group, headquartered in Johannesburg, offers a full spectrum of property-related services from branches throughout South Africa and comes with an empowerment pedigree second to none.  Mvelaphanda Strategic Investments, subsidiary of Tokyo Sexwale-led Mvelaphanda Holdings, recently acquired a 50% stake.  This together with Broll’s Property Academy initiative is set to make a real difference to empowerment moves in the local property industry.

Ends.

For further information            :            Arnold Meyer

                                                            Tel: 011 441 4000

Issued by                                :            Cullum Johnston

                                                            Imbongi Communications

                                                            Tel: 021 683 2685 / 083 500 8144


Publisher: Cullum Johnston
Source: Imbongi Communications

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