1 July 2009 – Rennie Property, South Africa’s leading specialist commercial property management company, today announced it has been awarded the property management contract for a national property portfolio. The portfolio consists of 90 properties valued at approximately R600 million.
The portfolio was built by a group of investors who pooled their resources to acquire commercial property. Rennie Property understands that this was accomplished by the formation of an investment syndication per property.
The property management function of the portfolio was previously performed by Capital Investments. The properties include office blocks, light industrial premises and shopping centres.
Rennie Property has the necessary track record and expertise to ensure these properties are properly managed. It hopes to implement an effective plan to maximise the earnings from each of the properties, within the constraints of the individual property characteristics as well as current property market conditions.