Will Des de Beer’s Iberian bet pay off?
Director and major shareholder Des de Beer hopes the rand hedge Reit is running with the bulls by expanding into Spain and Portugal
While not regarded as a glowing beacon on the JSE’s cluttered real estate board, Lighthouse Properties is appearing on more institutional buy lists as it looks to cash in on Spain and Portugal’s post-pandemic retail rebound. It’s a left-field rand hedge property play, certainly. But could it become as much of a money-spinner as its former stablemate Nepi Rockcastle?
Des de Beer certainly believes Lighthouse is ready to shine. The property maverick, who owns a sizeable 18% of the company, reckons it’s on a similar trajectory to Nepi Rockcastle. “It’s just a much smaller version of Nepi Rockcastle — but in more secure markets with less political risk,” he tells the FM. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.