iFour was incorporated on 24 July 2001 and was converted to a public company on 11 April 2002,

with the objective of being a property holding

company which will invest in, inter alia, office,

commercial and retail properties through its subsidiaries.  Prior to the acquisitions, the iFour Group had no trading history.

The primary objectives of iFour are to:

• own a secure, growing income stream from a quality portfolio of properties;
• grow the size of the portfolio to achieve economies of scale;
• maximise and secure long-term growth;
• facilitate the participation by holders of linked units in the returns from the assets by distributing a major portion of its net income before tax; and
• outsource property management, administration and non-core activities so that investment and asset management become the critical areas of focus for iFour management.

In order to achieve the stated objectives and to maintain a competitive advantage relative to other listed PLS companies, the portfolio was assembled on the basis of a set of criteria that ranked each property as follows:

·       value of the purchase consideration and yield;

• quality of the rental income stream;
• location with reference to the area’s growth potential and accessibility;
• building parameters such as adequate parking, degree of maintenance required, architectural design; and
• other factors including flexibility of alternative use.

iFour will have a diversified portfolio of properties with a market value of approximately R731 m. 

Diversification has been achieved by geographic location, tenant spread and usage distribution.