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 REIT has acquired the 30,000m² Berg River Business Park in Paarl for R182.15 million. This strategic move marks Spear’s first entry into the Paarl market, strengthening its Western Cape-focused industrial portfolio with a resilient, solar-enabled, multi-let logistics asset.
Spear REIT has delivered a strong set of FY2025 results, with record growth in asset value, a landmark R1.15 billion portfolio acquisition, improved occupancy, and a positive outlook for FY2026. The company continues to strengthen its Western Cape focus while enhancing its ESG and energy strategies.
Spear REIT has appointed Joan Solms as an Independent Non-Executive Director and member of its audit and risk committee. With over 20 years of experience in property and investment banking, Solms brings deep industry expertise and a longstanding connection to Spear’s journey in the Western Cape real estate market.