Resilient REIT Limited

South Africa

Resilient REIT Limited (2021-11)

The portfolio delivered a robust performance for FY21 despite the challenging landscape with the imposition of trading restrictions through the peak festive period resulting in a 5% contraction in revenue. This continues to demonstrate the defensiveness of the South African retail portfolio, which targets dominant non-metropolitan centres with large grocery and convenience offerings. As such, the vacancy rate remains very low at 2.3% (FY20: 2.1%), supporting the 2% upward revaluation of the SA portfolio in FY21.

Tokens: 3 Price: USD 300.00

Resilient REIT Limited

Resilient REIT Limited’s (“Resilient” or “the REIT”) credit ratings counterbalance its asset management rigour and conservative funding philosophy against its direct portfolio concentration and increasing scale disparity relative to market leaders. Portfolio quality remains sound, with the domestic properties’ solid performance further illustrating their defensive positioning relative to regional shopping centres in over-traded metropolitan areas.

Tokens: 2 USD 150.00

Resilient REIT Limited

Resilient is a JSE listed REIT, specialising in developing and managing retail properties. At 1H FY19, the REIT held a total direct property portfolio of R24.6bn, comprising South African assets of R23.2bn and Nigerian assets worth R1.4bn. The Portuguese portfolio (two retail assets held through 50% JV) was traded out for R1.1bn during 1H FY19. Other investments include sizable strategic holdings in offshore JSE listed property companies (comprising NEPI Rockcastle plc (“NEPI Rockcastle”) and Lighthouse Capital Limited (“Lighthouse”) - formerly Greenbay Properties Limited), totalling R9.3bn. Offshore assets represented 31% of total property investments, within the Board’s stated mandate, which allows for up to 60% of direct and indirect property assets to be offshore.

Tokens:1 Price: USD 75.00

Resilient REIT Limited (2018-05)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

Resilient REIT Limited (2017-05)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

Resilient REIT Limited (2016-05)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

Resilient REIT Limited (2015-06)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

Resilient REIT Limited (2014-05)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

Resilient REIT Limited (2013-04)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

Resilient REIT Limited Current Ratings

Issue Name Rating Country Rating Published
-- Short Term rating: A1+(ZA); Outlook: Stable South Africa 26-11-2020 0:00:00
-- Long Term Rating: AA(ZA); Outlook: Stable South Africa 26-11-2020 0:00:00
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