Ascension Properties Limited, founded in 2006, is a black managed and substantially black owned property loan stock company which listed on the JSE in June 2012. The company is a property income fund focusing on centrally located commercial office buildings in South Africa with a strong focus towards government and other empowerment sensitive tenants.
The fund converted to a Real Estate Investment Trust (REIT) in line with the new REIT legislation in June 2013.
The company’s capital structure consists of A and B Linked Units.
Forecast for 12 months to 30 June 2014
- A-Linked Units: 39.9 cents per unit (5% growth on 2013 distribution)
- B-Linked Units: 22.5 cents per unit (20% growth on the 2013 distribution)