CASTLEVIEW PROPERTY FUND LTD

CASTLEVIEW PROPERTY FUND LTD Organogram

Castleview Property Fund Ltd is a property holding and investment company that is invested in a regional shopping centre in the Eastern Cape, with a strategy of investing in a diversified portfolio of retail properties in South Africa, providing exposure to consumers from a cross-section of income categories. The company may invest in listed property shares in the future.\r\n\r\nCastleview Property Fund Ltd acquired the I Group portfolio in September 2022 resulting in the company acquiring a portfolio of South African and Polish direct, and South African and USA indirect assets across all property sectors and repositioned the company as a mid-tier REIT with a net asset value of R8.45bn and assets of R22bn.\r\n\r\nAs of 2024, the group owned 6 community shopping centres valued at R978.7m, with a gross lettable area of approximately 1,039,946 square metres, which is administered by Castleview Asset Managers.\r\n\r\nCastleview currently holds the following strategic investments across a variety of property-related entities:\r\n\r\n• Real Estate Investment Trusts\r\n- Emira\r\nCastleview owns 58.9% of the shares in issue of Emira Property Fund. Emira is a diversified real estate investment trust (“REIT”) company, with a property portfolio of predominantly South African assets, and a growing component of offshore assets. The Company listed on the JSE in November 2003, in the real estate investment trusts sector. In line with its strategic objectives, Emira’s property portfolio spans multiple sectors, namely office, retail – including USA retail – and industrial, with a new element of residential via the acquisition of 100% of the previously listed Transcend Residential Property Fund.\r\n\r\n- Collins Property Group\r\nCastleview has board representation, to a R11,3bn industrial and logistics portfolio through its 22.8% shareholding in Collins Property Projects, which is a subsidiary of JSE-listed Collins Property Group Ltd.\r\n\r\n• Community Retail\r\n- EPP Community Properties\r\nCastleview has a community shopping centre joint-venture in Poland with JSE-listed REIT Redefine Properties. The portfolio comprises 12 well located community shopping centres located in various cities around Poland, as well as 3 office buildings, with total assets of EUR710.0m. Castleview is increasing its stake in EPP Community Properties annually which currently stand at 50.2%.\r\n\r\n• Community Retail In South Africa\r\nCastleview currently owns a direct retail property portfolio in South Africa of 6 community shopping centres valued at R1.0bn that provides sustainable and proven cash-flows, and where the anchor tenants are expected to achieve high and stable turnover figures over time. These properties are either wholly-owned or on an undivided share basis with partners. The retail centres are of a community type, and are located near public transport or in fully built-up areas.\r\n\r\n• Residential\r\n\r\n- I Res Fund\r\nCastleview has invested in iRes Fund, a Western Cape based, income-producing residential portfolio valued at R370.0m that comprises units in a variety of property developments around the province.\r\n\r\n- Residential Development\r\nCastleview also has 6 residential sites in Cape Town, Western Cape, valued at R340m which have been developed for disposal or will be developed once the appropriate rights have been secured.