Company at a glance
Equites listed as the only specialist industrial property fund on the JSE on 18 June 2014. The company is a Real Estate Investment Trust (“REIT”) and both the property and asset management functions are managed internally.
Equites’ value proposition includes a focus on 'Big Box' assets in high-profile locations. The company has a proven track record of developing such assets in-house and unlocking key logistics nodes.
The company controls 43.5 hectares of prime industrial land Gauteng and Cape Town on which it has a substantial contracted pipeline including new distribution centres for Puma South Africa and Rohlig-Grindrod.
During 2016 Equites acquired 3 properties in the United Kingdom totalling some £62 million and 8 logistics properties from Attacq in Waterfall City, which will increase the portfolio value to more than R6 billion.
Fund highlights as at 31 August 2016
- 23 November 2016: Accelerated book build raises R1 billion of new equity
- 2 November 2016: Equites announces forward commitment to acquire new distribution centre in Stoke-on-Trent being developed by Prologis UK for £18,141,000, let to DSV
- 13 October 2016: Equites announces 20% growth in distributable earnings for the 6 months ending 31 August 2016
- 27 September 2016: Equites releases trading statement indicating strong distribution growth of between 16.7% - 20% for the 6 months ended 31 August 2016
- 26 September 2016: Equites announces acquisition of £17,000,000 distribution centre in Stoke-on-Trent, England let to Amazon UK
- 27 May 2016: Equites annouces acquisition of £28,000,000 distribution centre in Hinckley, England let to Tesco PLC at 7.2% yield
- 20 May 2016: Equites announces JV with Attacq and acquisition of R728 million of logistics assets in Waterfall, Gauteng
- 5 May 2016: Equites releases annual results for the year ended 29 February 2016 and delivers strong distribution growth of 18.3%
- 29 March 2016: Equites announces bumper distribution growth of between 16.3% and 18.8% for the year to 29 February 2016 on an adjusted full year basis
- 17 February 2016: Equites achieves Practical Completion on TFG's new 22,227m2 distribution centre in Midrand 6 weeks ahead of schedule
- 5 November 2015: Equites announces successful accelerated book build raising R1.5 billion
- 3 November 2015: Equites announces conclusion of JV with Grindrod to develop R260 million distribution centre for Rohlig-Grindrod
- 15 October 2015: Equites releases results for the 6 months ended 31 August 2015, outperforming previous forecasts and growing asset value to R3.5 billion
- 14 September 2015: Equites announces acquisition of vacant land (Atlantic Hills) and conclusion of agreement to develop new R150 million distribution centre and head office for Puma
- 27 August 2015: Equites announces acquisition of minority interest in TFG distribution centre and further 17 hectares of vacant land at Lord's View Midrand for R180 million
- 19 August 2015: Equites announces acquisition of Tunney Ridge Business Park for R137 million
- 28 May 2015: Equites announces the acquisition of Intaprop's R1.9 billion portfolio including 21 hectares of vacant land