Grit Real Estate Income Group, which has property investments in seven African countries and a market capitalisation of R5.7bn, says it sees potential investment opportunities worth $600m (R8.6bn).
At the end of December 2018, the company’s property portfolio and other income-producing assets were valued at $796.4m.
The landlord said in a trading update on Wednesday the “attractive potential investment opportunities” were mainly in the industrial, corporate accommodation and hospitality sectors.
“We are well-placed with an excellent platform for growth and we look forward to capitalising on a significant and growing pipeline of investment opportunities that the company has currently identified,” said CEO Bronwyn Corbett.
The group said it is “considering its options” regarding further capital raises to fund the pipeline.
Grit wants its loan-to-value ratio to reduce to between 35% and 40% over the medium term, from 43.4% at the end of December 2018.
Meanwhile, it said it is on track to deliver a 12% total return to shareholders, and positive dividend growth, for the financial year to end-June.
Grit also said it wants to move to the premium listing segment of the London Stock Exchange in the last quarter of 2019. To facilitate its eligibility for inclusion in the FTSE UK Index Series, it is considering redomiciling its corporate seat to Guernsey.