Johannesburg, South Africa, 20 April 2020: Marc Wainer, founder, former Chairman and CEO of Redefine Properties, who started his career working in his parents’ grocery and fish shop in Yeoville and went on to build one of the country’s largest and diversified Real Estate Investment Trust (REIT) listed on the JSE passed away earlier today at the age of 71.
The legendary founder and pioneering property investor and developer Marc Wainer had retired from the company at the end of August 2019.
Marc established himself as a visionary and an astute deal maker over his more than 40 years in the industry, building Redefine Properties, included in the JSE Top 40 Index, into one of the largest REITs with more than 300 local properties with last reported total assets exceeding R100 billion.
He was also instrumental in transforming Redefine Properties into a global REIT with interests in commercial property diversifying into new markets such as Poland, United Kingdom, Germany and Australia and alternative investments such as student accommodation, as-well-as a once off residential play.
“I am at a loss for words and deeply saddened by Marc’s passing away. He leaves a void in the lives of people in the entire property sector who did not escape his characteristic wit, infectious laughter and his genuine love and concern for those he worked with,” says Andrew Konig, CEO, Redefine Properties.
“Marc was a true family man and our thoughts and prayers are with them during this difficult time.”
“His passing away is also a huge loss to the sector and we will all miss his guidance and encouragement. Marc always said that people are the only thing that matter. Our tribute to him will be who we say we are and continue to grow the business he founded, and manage and create our spaces in a way that purposefully changes lives,” adds Konig.
“Marc leaves an extremely powerful legacy. He will always be remembered as a legendary leader, a game-changer in the property sector, and someone who changed the lives of many who had the privilege of working with and knowing him, including those whose lives he touched via The Mentorship Challenge. He truly ‘walked the talk’ on his passion for people, property and giving back through mentorship.”
“Marc will be missed but never forgotten.”