reit_sthe

Global Credit Ratings (GCR) reaffirms Octodec’s A- credit rating with a revised stable outlook

On Wednesday, 22 June 2022 JSE listed REIT Octodec Investments Limited announced that Global Credit Ratings (GCR) had reaffirmed Octodec’s A- credit rating with a revised stable outlook.

Shareholders and noteholders are advised that Global Credit Ratings (“GCR”) has undertaken a credit rating review of Octodec, as guarantor of wholly-owned subsidiary Premium Properties Limited’s Domestic Medium-Term Note Programme dated 23 February 2015. On 21 June 2022, GCR re-affirmed the long-term national scale issuer rating assigned to Octodec of A-(za) and the short-term issuer rating of A2(za), with the outlook revised from Negative to Stable.

This revised outlook is indicative of the improved trading conditions for listed property owners with exposure to defensive sectors such as retail and residential in a post-Covid-19 environment and signals the prevailing positive sentiment for operators in the Tshwane and Johannesburg CBD’s.

GCR’s credit rating announcement is publicly available on GCR’s website at https://gcrratings.com/announcements/gcr-affirms-octodec-investments-limiteds-ratings-of-a-za-a2za-and-revises-the-outlook-to-stable-from-negative/.

Shareholders and noteholders can also contact Elize Greeff at elizeg@octodec.co.za to request an electronic version.

The post Octodec GCR credit rating appeared first on Octodec.

Johannesburg, 8 September 2022: JSE-listed diversified real estate investment trust (REIT) Redefine Properties continues to be recognised for its reporting on its ongoing commitment to sustaining value creation for stakeholders. Redefine, for the successive sixth year, retained its top three position in SA at EY Excellence in Integrated Reporting Awards 2022, coming in second behind Nedbank. Since 2015, Redefine has consistently featured in the top 10.

This ongoing recognition is testament to Redefine’s commitment to the highest standards of integrated reporting and transparent approaches in disclosures and reflects the company’s purpose of creating and managing spaces in a way that changes lives.

Redefine believes an integrated approach to making strategic choices sustains value creation for all stakeholders over the long term. The integrated report remains a vital communication tool conveying to stakeholders financial aspects as well as environmental, social and governance strategy, impact and goals.

The results are a strong endorsement of the company’s application of integrated thinking on a wide range of issues such as corporate governance, initiatives to protect the environment, and the way it serves its communities.

This comes after Redefine refreshed its engagement strategy for each stakeholder with an eye on being totally focused on inclusivity. The company has embraced the hybrid workforce and embedded diversity into its culture. It has adopted a climate resilient framework, and broad sustainability interventions continue to take place across it’s entire operating value chain.

The purpose of the awards is to encourage and benchmark standards of excellence in the quality of integrated reporting to investors and stakeholders in SA’s listed sector. The awards are based on how well companies explain to stakeholders how they create value over time and how the board considered material matters to ensure the strategic objectives are met.

Redefine believes that the property sector – which permeates so many lives – should be a visible contributor to practices that preserve the environment and promote social cohesion.

It remains imperative that the entire sector drives inclusivity and good governance going forward. Redefine believes this will lead to resilience, sustainability (Redefine managed to withstand significant headwinds caused by Covid-19 thanks to its robust sustainability framework) and improved outcomes for more people and communities.

For us, financial results are not the only measure of success, hence our integrated report encompasses our strategy and performance in the area of ESG as well as future expectations, commitments and goals. The recognition strengthens our resolve to further embed key sustainability issues in our strategy and present information in a manner that enable stakeholders to analyse and assess our ability to create and sustain value in the medium- to long-term horizon.

As Corporate South Africa, we can no longer ignore the plight of millions of children who go to bed hungry every night across South Africa.

On 16 August, Octodec, with the help of City Property staff, came together at 012central to pack over 129 000 meals for Rise Against Hunger which will feed 500 children with five meals a week for an entire year!

The Covid-19 pandemic halted many in-person CSI initiatives and operations, so we were excited to finally roll up our sleeves and get back to being part of the solution by packing meals with our partners from Rise Against Hunger.

3.1 million children experience chronic hunger daily which has a devastating effect on brain development. 90% of brain development happens before the age of five, and further one in five South African children under the age of six are developmentally delayed.

Beyond the facts and figures regularly used to explain hunger, understanding the full extent of starvation and malnutrition can be daunting. We applaud the work Rise Against Hunger does to end hunger by empowering communities, nourishing lives and responding to emergencies.

For over five years we have been committed to his project, providing almost 630 000 meals in that time.  The meals are highly nutritious and comprise of rice, soya, dehydrated vegetable mix and fortifying minerals and vitamins, specifically formulated to combat malnutrition – and complies with the UNICEF standard. 

As was done in the past, the meals will be distributed to early childhood development centres across Gauteng through the Rise Against Hunger network. This food drive serves as an imperative reminder of what can be accomplished when Corporate South Africa comes together for the greater good.

The post It starts with a meal appeared first on Octodec.

 

George Muchanya has been appointed Head of Growthpoint Investment Partners, the Growthpoint Properties (JSE: GRT) alternative real estate co-investment business, effective from 1 July 2022.

Growthpoint’s former Head of Corporate Finance, Muchanya holds a BSc Eng, MBA and is a graduate of the Corporate Finance Programme (London Business School) and PLD (Harvard Business School). An engineer by training, Muchanya’s career spans 25 years in engineering, investment banking and management consulting. Since joining Growthpoint in 2005, Muchanya has played a key role in implementing its strategic initiatives both offshore and in South Africa.

Growthpoint Investment Partners is a leading alternative real estate co-investment partner with R15bn of assets under management. It has a growing portfolio of niche, themed property co-investments to date that include South African healthcare properties in Growthpoint Healthcare REIT, income-generating African commercial properties (excl. RSA) in Lango Real Estate and South African purpose-built student accommodation in Growthpoint Student Accommodation REIT. These co-investments have positive, long-term socio-economic impacts, and are all subject to excellent governance and sustainability oversight frameworks.

The post Growthpoint appoints George Muchanya as Head of Growthpoint Investment Partners appeared first on Growthpoint Properties.

The Company signals its commitment to the CBD through multi-faceted enhancements to an already dominant inner-city retail and residential portfolio

JSE listed REIT, Octodec Investments Limited, today announced that it has commenced upgrading its Shoprite building in the heart of the Tshwane CBD, at a cost of just below R60 million. The facelift is a welcome boost to the existing, bustling retail trade in the CBD, and proves renewed confidence in a node which has clearly emerged stronger post the Covid-19 pandemic.

Jeffrey Wapnick, MD of Octodec, says: “With many retailers having returned to the CBD and various in-person university classes resuming, Octodec’s CBD retail assets are experiencing a renewed energy. We are thrilled to announce the news of this project, highlighting that the heart of Tshwane is still thriving and a vibrant place to be.”

The first phase will be a revamp of the 4000m² Shoprite supermarket and includes a new Shoprite Liquor and new retail shops on the ground floor. The most prominent visual element will be a triple volume entrance with escalator access from Helen Joseph Street. The escalators will lead downwards to an OK Furniture store. In addition, the project includes renovations to the Helen Joseph Street façade, including a new modern shopfront.

The second phase of the renovation will cater for more retail tenants on the ground floor and the remainder of the basement space. Negotiations are well underway with prospective tenants. Further upgrades include the pedestrian access point from Madiba Street, which will be upgraded to provide a landscaped walkway for easy access to the Shoprite store.

“We enjoy deep, mutually beneficial relationships with our tenants, who often provide great insights. It is unlikely they would invest in the CBD without a positive outlook. We are seeing these same tenants lease for longer periods which further underpins their confidence in the CBD long-term. Confidence from our tenants and improved market conditions have spearheaded growth within the CBD, which Octodec will certainly benefit from.” concludes Wapnick.

Shoprite will continue to trade during the duration of the upgrade. The project is expected to be completed in December 2022.

The post Octodec upgrades landmark Shoprite building appeared first on Octodec.