The objective of Investec Property Fund is to grow its asset base by investing in well-priced income-producing properties in the office, industrial and retail sectors to optimise capital and income returns over time for investors. Effective and proactive property management in this growing portfolio is crucial for achieving the fund's performance goals.
This contract puts a portion of its property management in the hands of one of South Africa's most respected property managers. Broll manages properties for a further nine listed property funds, with its unique understanding of the dynamics and key drivers for portfolios in this sector.
For Broll, receiving the property management contract for the portfolio brings its total assets under management across all service lines to R94bn, of which 20% is outside the borders of South Africa.
Malcolm Horne, CEO of Broll says, "We're proud to be awarded the property management contract. This prestigious REIT invited Broll to tender for the property management with another service provider. We were impressed with the thoroughness and vigour it applied to the tender process, which are qualities we understand and appreciate in a management partner relationship and we are appreciative that we have secured this business.
"We are ready to put the company's knowledge, skills and experience into action to assist the fund to achieve its performance and growth objectives. We look forward to creating a long-term, mutually beneficial and value-adding partnership," concludes Horne.
Broll's property management division has secured new business valued at over R25bn during the last 24 months.
