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Black property managers boosted

14 Sep 2007
A property portfolio managed by the black-owned property management firm Hermans & Roman has been boosted by R1bn through a three-way management outsourcing.

Sanlam Properties has outsourced the management of the R3,86bn property portfolio of the property loan stock company, Vukile Property Fund, which incorporates the formerly listed MICC fund.

The chief executive of Sanlam Properties, Banus van der Walt, said the property managers had "the expertise, experience and national infrastructure" to maintain the service levels that Sanlam and Vukile Property Fund required.

"The Sanlam outsourcing has reinforced our national capacity and significance," says the chief executive of Hermans & Roman, Kevin Roman, and adds that the entire value of Hermans & Roman's national property assets has been lifted to more than R4bn in the private sector and R7bn in the public sector.

Gerhard van Zyl, chief executive of Vukile, said the Vukile portfolio was a good balance of commercial, retail and industrial properties, selected according to the criteria of their quality and capital yield.

The diverse 23-item retail, commercial and industrial portfolio to be managed by Hermans & Roman includes properties with a total gross lettable area (GLA) of 191,869sq m.

Hermans & Roman will manage property in the Western Cape, Nelspruit, Mpumalanga (including Pongola), KwaZulu-Natal and Gauteng.

"The large, diverse portfolio represents quality and capital yield. It ranges from multi-tenant, blue-chip shopping centres to office buildings in Parow, Nelspruit and Piet Retief. It ranges from multi to single-tenant properties," says Leslie Hermans, co-shareholder and chief operating officer.

Hermans added that a multi-tasking team, based at the newly established 200 sq m Gauteng office at Mandela Square in Sandton, would manage the portfolio while being supported by national infrastructure.

"Property management is primarily a service function but increasingly technology used to provide consistent service has the by-product of management information to support strategic decision-making. We feed key information back to our clients to inform their investment choices and tactics."

Roman said this partnership brings them closer to their target of managing a R5bn portfolio by December 2008 - in addition to the R7bn public sector portfolio.

For more information contact 021 918 9500 or click here to visit the website.

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