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Konrad Kohler Email
Development Manager . Fortress REIT Limited
Johannesburg,
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Fortress REIT Limited, the diversified property group, plans to grow its logistics-focussed properties to two thirds of its total portfolio by 2020 as it forges ahead with a raft of new developments worth a combined R1.5 billion. The Johannesburg-based REIT currently owns 100 logistics-focussed properties, comprising approximately 42% of its total portfolio. The remainder includes retail (35%), industrial (13%) and office (10%) properties. Fortress plans to rebalance this overall portfolio mix to two-thirds logistics and one-third commuter-focussed, rural retail properties over the next two years. “The rebalancing of our property portfolio towards a mix of roughly two thirds logistics and one third commuter and rural retail is a reflection of where we envisage growth in the foreseeable future,†said Mark Stevens, CEO of Fortress. “With the new-found optimism in the country we have seen a noticeable increase in interest from prospective tenants across our entire portfolio. However, we believe the logistics and rural retail space offers the best opportunity to capitalise on this growth.â€Fortress REIT Limited Address
35 Culinan Close, Morningside 2196Johannesburg, null
South Africa