Western Cape real-estate veteran Mike Flax and his understudy, Quintin Rossi, are banking on “semigration” across wealth brackets into the province to drive their latest property fund.
The pair say their company, Spear, may be able to deliver sector-beating dividend growth because of this growing trend.
Spear, a Real Estate Investment Trust (REIT) focused on investing in real estate within the Western Cape region, has announced the successful completion of an equity capital raise of R 457,75 million via a vendor consideration placement. This announcement follows the recent unconditional status of the acquisition of the Emira Western Cape portfolio, adding further impetus to its Western Cape-only-focused growth strategy.
Spear REIT (SEA:SJ) hosted its HY2025 pre-close presentation to shareholders via its YouTube channel on Thursday, 29 August. The theme of the pre-close aligned with the positive and stable macroeconomic landscape of the Western Cape. Spear remains the only regionally...
Spear REIT’s recent Category One acquisition of Emira Property Fund’s Western Cape portfolio took a significant step forward on 31 July 2024, as shareholders voted in favour of the purchase. With this approval, the transaction is now unconditional, paving the way for...