Spear REIT Limited (SEA:SJ), the only regionally specialised Real Estate Investment Trust (REIT) listed on the JSE, reported its annual financial results today, posting 6.06% earnings growth amidst some of the toughest trading environments in recent years for the South African listed real estate sector.

JSE listed Spear REIT Limited, the owner of the Double Tree by Hilton Cape Town, is the first in South Africa to launch an innovative self-quarantine accomodation solution.

JSE listed Spear REIT Limited announced the appointment of Mrs. Kim Pfaff-Karg as Chief Investment Officer who will join the business on the 1st of March 2020.

Spear REIT Limited (SEA:SJ) on Friday 1st November announced the acquisition of the Liberty Life Regional Head Office from Liberty Group and 2 Degrees Properties for R 370 million.

"Amidst the tough trading conditions and the subdued performance of the real estate sector as a whole in South Africa, Spear should be one of a REIT investors go to stocks.''

“Spear has delivered distribution growth of 10,09% in a very tough economic environment. In a less than optimal operating environment the strong performance of the core portfolio is testament to its high-quality nature and reinforces management’s strategy of being regional focused and close to its assets” – CEO Quintin Rossi

Cape Town – Spear REIT Limited  on Tuesday the 21st of November announced the acquisition of Northgate Island Corporate Office Park “Northgate Park” from Tremtrust 1 Trust comprising of 30% of block 1 and 100% of blocks 2, 3 and 4 of the property for R 313 000 000.

“Spear’s assets under ownership of its core portfolio have increased 117% since the start of the 2018 financial year. The strong performance of the core portfolio stands testament to the value investing nature of management and ability to actively manage assets that generate yield-enhancing returns for shareholders” – CEO Mike Flax.

Regionally-focused JSE main board-listed property group Spear REIT Limited has acquired several new properties which fit their mandate of investing in high quality real estate based within Western Cape growth nodes.

Spear REIT Limited has declared a first dividend of 16.75% over their forecast in the company’s first set of financial results since listing on the Johannesburg Stock Exchange in November last year.

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