The distribution is in line with the company’s forecasts. Following consistent performance in the first two quarters, the units are on track to meet the year-end target of 211c per combined unit.

ApexHi has also announced that it intends to acquire properties worth R500-million over the next 12 months as part of an ongoing strategy to grow its portfolio to minimise risk and maintain the high liquidity levels of its A and B units. The portfolio is currently valued at R2,8-billion.

According to chief executive Gerald Leissner, ApexHi will acquire high yielding properties which compliment its strategy to leverage properties in secondary locations with quality tenant bases.

“The company’s strategy is built around unlocking value in properties that typically trade at significant discounts to comparable properties in prime locations. Unit holder value is protected by only acquiring revenue-enhancing properties that suit the investment profile of the portfolio,” he says.

While maintaining its strategy to invest in secondary locations, the company has shifted its focus to the retail property market. Leissner says the retail market offers better rental growth opportunities, a high proportion of A-grade tenants and a higher demand for space.

Most recently, ApexHi announced its purchase of the entire portfolio of Shops for Africa. The transaction, which provides a strong nucleus from which to grow, boosted the company’s portfolio to 237 properties.

“The Shops for Africa purchase helps to rebalance the portfolio make-up and further minimises the reliance on any one type of property. A lower exposure to offices and CBDs and an increased retail portfolio equates to a lower level of risk on the overall portfolio which is good for investors,” he says.

Leissner is confident that ApexHi's growing and increasingly diversified portfolio will continue to benefit from the improving fundamentals in the property market as well as lower interest rates.