Emira Property Fund

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Emira Property Fund Limited
  • Emira Property Fund
  • Year : May 2020
3 Tokens
USD 300.00
Summary

The sound performance of Emira Property Fund Limited’s (“Emira”, “the REIT” or “the fund”) small but relatively diverse portfolio continues to underpin the ratings, despite heightened funding and asset risk faced by the South African property sector.
The rebalanced Emira portfolio is weighted towards retail (48%, versus 41% at December 2018), although the REIT also has moderate exposures to office, industrial and a small residential investment.

Additional Information

Listed in 2003 as a property unit trust (“PUT”) under the Collective Investments Scheme Control Act (“CISCA”), Emira (the rated entity) became a Trust REIT on 1 July 2013, and converted to a Corporate REIT with effect from 1 July 2015. Emira is internally managed, but outsources property management to Broll Property Group, Swish Property Group and Feenstra Group.The estimated recovery rate of 96.7% is considered to be an excellent recovery prospect and therefore, GCR assigned a four-notch rating uplift from the issuer ratings on the national scale.

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