Emira Property Fund, owner of Knightsbridge Office Park in Bryanston and the Quagga Shopping Centre in Pretoria whose offer to take over SA Corporate Real Estate was rebuffed last week, says it is still in a strong position to buy other local real estate companies.
Emira had tried to buy SA Corporate but it was prevented from doing a due diligence on the diversified group. It had wanted to gain exposure to SA Corporate’s R4bn residential portfolio. “Through AFHCO they own very attractive residential assets. We have been trying to increase our exposure to that sector of property having recently bought a 34.9% stake in Transcend. So we could have built a residential platform but this opportunity was missed,” Jennett said. Emira grew its dividend 3.
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