Provest MD Angelique de Rauville said ApexHi's risk profile had been at a premium, given the company's "overweight exposure" to properties in SA's city centres.

"ApexHi is in a fortunate situation in that they can diversify into loweryielding and lower-risk properties while still achieving earnings in line with market expectations," she said.

ApexHi said this week that the acquisition of the predominantly retail property fitted the profile of its high-yielding portfolio and was a significant step towards enhancing the retail portion of the portfolio.

Executive director Deon Feinblum said the company aimed to have an equal balance of retail and office properties by the end of June.

Rivonia Square was one of 12 retail properties that it had bought in the past six months.