Emira delivers a 22,2% total return for investors
Emira Property Fund reported distribution growth per participatory interest (PI) of 9% for its half-year ended 31 December 2014.
The fund’s net asset value (NAV) increased by 14% during the six months to 1 650 cents per PI, while its distributable income grew 13& to R330 million.
James Templeton, CEO of Emira Property Fund, attributes its strong performance to the fund’s acquisitions, contractual rental escalations on the bulk of its portfolio, significant leasing progress made during the period and stringent cost control. He expects to achieve similar levels of distribution growth for the full financial year to the end of June 2015…