ApexHi guns for balanced portfolio

Posted On Thursday, 10 February 2005 02:00 Published by eProp Commercial Property News
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APEXHI Properties’ shift towards greater retail exposure is gaining momentum, with the listed loan stock company announcing this week that it acquired a further R96,5m worth of properties.

Gerald LeissnerApexHi, which acquired three retail buildings in Hammanskraal in Gauteng and Siyabuswa and Matsamo in Mpumalanga, said it was rebalancing its property portfolio to include a higher proportion of retail properties, because these would reduce risk.

Executive director Deon Feinblum said yesterday that the company wanted a 50-50 split between retail and office properties.

Feinblum said the group believed there was a "bit of growth" available in retail at the moment.

Since June last year the company has spent about R363m on new acquisitions, most of them in retail. It has sold a total of R104m worth of properties, most of them offices.

Mariette Warner, fund manager of Stanlib Property Income Fund, said a 50-50 split between the two types of property was good.

"The fundamentals in the office market have improved. This should lead to increased income generated by office portfolios from 2006."

Last modified on Tuesday, 13 May 2014 13:48

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