Periscopic Property Management has been awarded the management contract for part of Vividend Income Fund’s property portfolio of nine properties.
Vividend listed on the Johannesburg Stock Exchange main board on 18 November 2010 within the Real Estate Holding and Development sector as a Property Loan Stock company.
It listed with an initial market capitalisation of R523 million.
Vividend identifies value and value enhancing opportunities in retail, commercial and industrial asset classes within the R30 million to R100 million range.
Its primary goal is to create a diverse and stable portfolio of assets capable of generating escalating free cash flows and distribution income for its shareholders.
The properties that will be managed by Periscopic include four retail centres, Montclair Mall in Durban, Beaufort Mall in Beaufort West, Rynfield Centre in Rynfield, Benoni in Ekurhuleni and Clearwater Crossing in Radio Kop, Gauteng.
The commercial properties include the Oswald Pirow Building in Roggebaai Cape Town and two stand-alone Absa branches in Blackheath and Rosebank.
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