Equites Property Fund Ltd ZAR
JJSE:EQU1,845.00
ZAC
+4.00
(+0.22%)
ISIN
ZAE000188843
Return %
Stock
S&P 500
1Y
8.15
14.20
3Y
53.62
81.12
5Y
-9.11
68.34
Capital Structure
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in mil. unless spec.Growth Rates
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in mil. unless spec.Semi-annual Revenue
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in mil. unless spec.Semi-annual Earnings Per Share
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- CEO
- Andrea Taverna-Turisan
- Full Time Employees
- 59
- Sector
- Finance
- Industry
- Real estate investment trusts
- Address
- 14th Floor, Portside Tower Cape Town WC South Africa 8001
- IPO Date
- Jun 18, 2014
- Website
- equites.co.za
- Similar Companies
- Business
- Equites Property Fund Limited (JSE: EQU) is a South African real estate investment trust (REIT) focused on the ownership, development, and management of premium logistics and industrial properties in South Africa and the United Kingdom. The company offers best-in-class logistics facilities featuring high baseline specifications that incorporate EDGE Advanced certification in South Africa and BREEAM standards in the UK; rooftop solar photovoltaic installations generating 20.2 megawatts across its portfolio; sustainable green buildings certified under EDGE (South Africa) and BREEAM (UK), representing 41% of income-producing portfolio value; long-term leases to A-grade tenants such as Shoprite Checkers, DSV Solutions, Hermes Parcelnet, Foschini Retail Group, and Digistics; and development pipelines in prime nodes including Gauteng (Meadowview, Jet Park, Riverfields, Centurion), Western Cape (Parow), and KwaZulu-Natal (Canelands), with a total gross leasable area of 1.46 million square meters as of February 2024. Its South African portfolio, comprising 71% of total value (R20.3 billion), targets logistics hubs in Gauteng, Western Cape, Eastern Cape, and KwaZulu-Natal, serving large national retailers, third-party logistics providers, and fast-moving consumer goods companies; the UK portfolio (29%, R8.1 billion) includes stabilized income-producing assets and select development opportunities in the Midlands and South East England. Founded in 2013 and headquartered in Stellenbosch, South Africa, Equites listed on the Johannesburg Stock Exchange in June 2014 with an initial portfolio of R1 billion, growing to R28.4 billion by February 2024 through targeted acquisitions and developments. Recent strategic changes include a major disposal program yielding R4.8 billion from South African and UK assets to reduce leverage to 39.6% loan-to-value and fund developments; divestment in September 2024 of interests in the Equites Newlands Group Limited platform to Newlands Property Group, retaining joint control in projects at Newport Pagnell, Basingstoke, and Coton Park while transferring special purpose vehicles in Cambridge, Rushden, Northampton, Nottingham, Egham, Peterborough, and Goldthorpe; completion in May 2025 of a landmark real estate sale to Ata Terra; termination of cross-currency interest rate swaps in early 2024 to enhance rand-hedge exposure; issuance of R1.7 billion under its Domestic Medium Term Note program and a R250 million seven-year private placement; and expansion of renewable energy with 11.1 megawatts of new solar capacity plus the first energy wheeling agreement in Cape Town. These initiatives support portfolio growth, sustainability goals aligned with Science Based Targets initiative net-zero by 2040, and a weighted average lease expiry of 12.6 years at 0% vacancy.