Equites Set To Acquire Shoprite’s Logistics Campus In KwaZulu-Natal
Equites Set To Acquire Shoprite’s Logistics Campus In KwaZulu-Natal. Equites has announced that it is set to acquire Shoprite’s Canelands Logistics Campus in KwaZulu-Natal through its subsidiary Retail Logistics Fund (RLF).
“Equites’ strategy is to pursue growth in South Africa through high-quality acquisitions and developments, and the transaction meets Equites’ strategic objectives,” the company told Engineering News. Equites is the only specialist logistics property fund on the JSE. The company is a Real Estate Investment Trust (“REIT”) with both the property and asset management functions managed internally.
The company listed on the JSE on the 18th of June 2014 with a portfolio value of R1 billion. The company aims to provide investors with pure exposure to high quality logistics properties let to investment grade tenants both in South Africa and the United Kingdom. The company has a proven ability to identify and acquire well located logistics assets that meet the requirements of large, institutional tenants. In South Africa, this is complemented with the in-house development of modern logistics facilities, enabled by strategic land holdings.
Equites also said in a post on LinkedIn, “Equites is thrilled to share that we will be investing R1.16 billion into building a new The Shoprite Group of Companies logistics park in KZN. This investment is more than just a business venture – it is an opportunity to create new jobs, sustain local businesses, and heighten communities.”
