Exemplar REITail Limited lists on JSE

Posted On Tuesday, 12 June 2018 22:05 Published by
Rate this item
(0 votes)

The company was created from the core of McCormick Property Development (MPD) – a company with over 35 years of experience in the development and management of rural retail centres.

Jason-John-and-Matthew-McCormick

Exemplar REITail will focus entirely on the ownership and management of township and rural retail, with no development arm within the company, thus removing development risk for investors.

CEO of Exemplar REITail, Jason McCormick, says they will continue to work alongside MPD and will have first right of refusal for all their developments going forward, subject to approval from the Investment Committee.

The MPD development pipeline currently stands at over half a million square metres of retail potential (at 2017 market demand estimates), with an average size of over 20 000sqm per development.

Exemplar-Board-of-Directors-

Exemplar has listed with a value of just over R5.5 billion and a market capitalisation of just over R3 billion. The fund has 20 retail properties and three further shopping centres, currently under construction, that will be added to the portfolio once completed within the next 2 years.  

“We are the only fund in South Africa focused purely on emerging market retail and are unique in that every one of the 20 operational properties in the fund were developed by MPD. The same team that has managed them since their respective openings will still continue to do so.” says McCormick.

Having pioneered the development and management of retail in these areas over 35 years ago and with the Exemplar management team having a combined 238 years of employment at MPD at the time of being internalised into Exemplar, it is safe to say that the team’s experience in this niche of the retail market is unprecedented.

Exemplar-Management-Team

“This level of experience in the industry plus a historical understanding of our assets and the market within which we operate should produce great comfort to investors looking for new opportunities in the REIT space,” concludes McCormick.

Exemplar’s board includes John McCormick, Jason McCormick and Duncan Church as executive directors. Industry stalwart and ex head of Nedbank CIB, Frank Berkeley is the non-executive chairman and Greg Azzopardi, Peter Katzenellenbogen and Phatudi Maponya make up the non-executive directors

Last modified on Tuesday, 12 June 2018 22:29

Most Popular

53 Telkom properties coming up for auction

Mar 02, 2020
Orange Grove
GoIndustry DoveBid SA (GoIndustry) is hosting another massive property auction on behalf…

Balwin's Munyaka registers record R850 million in opening weekend sales, selling 555 apartments

Mar 09, 2020
Steve_Brookes_Balwin_Properties
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Young buyers driving residential property market in Bloemfontein

Mar 04, 2020
Bloem Willows
Bloemfontein is experiencing a surge in residential property transactions concluded by…

Hyprop bolsters Rosebank Mall offering through securing the Checkers Premium FreshX concept

Mar 04, 2020
Rosebank Mall
Shoppers at Rosebank Mall in Johannesburg can look forward to a world-class supermarket…

Fairvest Property Holdings maintains above-inflation growth in challenging market

Mar 02, 2020
Darren Wilder CEO Fairvest Property Holdings
Fairvest Property Holdings Limited (“Fairvest”) today again announced solid results for…

Please publish modules in offcanvas position.