Capital Markets Africa’s Post

Spear has successfully completed a vendor consideration placement of R 457,7 million rand to bolster its growth plans in the Western Cape. Spear REIT CEO Quintin Rossi affirmed, "Spear has remained laser-focused on building a high-quality, regionally centered real estate portfolio that consistently generates sustainable cashflows and profitability. The proceeds of Spear's vendor consideration placement will be put to work to generate a mission-statement-aligned return for all stakeholders post the implementation of the new portfolio acquisition along with seeking out attractive portfolio growth opportunities within the region." The Western Cape has stood out as the most desirable real estate investment and development market in South Africa as Provincial and Municipal investment fundamentals outpace the balance of South Africa, resulting in improved economic activity, boding well for real estate valuations and rates of return. Spear is on the cusp of implementing its R 1,146 billion acquisition of a 13-asset Western Cape-only portfolio from the Emira Property Fund, which will see its assets under ownership increase to R 5,3 billion post implementation. The acquired assets constitute a diversified portfolio of 93 500m2 comprising high-quality industrial, medical retail and commercial offices in attractive and well-established Cape Town nodes. Following the new portfolio acquisition, management will continue to seek incremental investment and development opportunities, while also exploring diversified portfolio options within the Western Cape, in line with its investment strategy. The full press release can be found on: https://lnkd.in/dwPRvv6h #Spear #SpearREIT #SpearREITLImited #WeInvestWesternCape #WesternCape #BreakingNews Quintin Rossi Christiaan Barnard Kim Pfaff-Karg Cliff Toerien