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BROOKLYN STUDIOS

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OVERVIEW

GROWTHPOINT INVESTMENT PARTNERS

Growthpoint began the groundwork for Growthpoint Investment Partners in 2014 when we identified the co-investment and co-management of specialist alternative real estate investment portfolios as one of three key strategic thrusts. Today, Growthpoint Investment Partners has R18.1bn of assets under management. We aim to continue to diversify our assets and harness new opportunities through co-investment to create sustainable value for our stakeholders and investment partners.

The Strategy

The ability to scale each opportunity is a key consideration for co-investment, as is differentiating the assets from our core SA portfolio in the office, retail and industrial property sectors. Since 2018, Growthpoint Investment Partners has launched three unlisted investments in specialist alternative real estate asset classes: African (ex. SA) income-producing commercial real estate, SA healthcare property, and SA student accommodation. Growthpoint is a cornerstone investor in these investments and plays a management role. All three investments have reported positive long-term socio-economic impacts and enjoy access to Growthpoint’s excellent governance oversight frameworks and extensive dedicated environmental, corporate social investment and sustainability resources.

Our Investments

STUDENT ACCOMMODATION REIT

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HEALTHCARE REIT

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LANGO

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Student Accommodation REIT

Growthpoint Properties launched South Africa’s first unlisted purpose-built student accommodation Real Estate Investment Trust (REIT) in December 2021. Growthpoint’s student residence platform, now called Thrive Student Living, features well-located, modern properties, and additional projects in the pipeline.

Growthpoint’s R490m investment represents a 20.9% shareholding in the unlisted REIT and will remain a core investor in the fund, targeting to own between 15% and 20% of the equity in the REIT in future. Growthpoint is the fund manager and assumes overall responsibility for the success of the Student Accommodation REIT, while Feenstra has an 7% holding in the REIT. Feenstra Group, a company majority controlled by Feenstra, is the appointed property manager for the REIT.

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Thrive Student Accommodation

More than accommodation, we wanted to create something that affords students an opportunity to get the most out of their tertiary education.

Thrive Student Living offers carefully designed spaces in a secure, comfortable, and social environment. Our portfolio of student accommodation is conveniently located close to universities and major colleges in Johannesburg, Pretoria, and Cape Town. Each property in our portfolio offers a range of room options and an extensive list of amenities and activities to compliment the student life experience.

Pipeline Developments

The Student Accommodation REIT has several acquisition and development opportunities on the horizon. This includes an immediate growth portfolio of two development projects currently underway in Johannesburg, both of which will open in time for the 2025 academic year.

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Thrive Student Living Portfolio

Thrive@Peak Studios

Number of beds: 563 | Ideal for students from: University of Cape Town.

Thrive@Apex Studios

Number of beds: 901 | Ideal for students from: Wits University.

Thrive@Kingsway Place

Number of beds: 665 | Ideal for students from: University of Johannesburg, Wits University.

Thrive@Richmond Central & The Richmond

Number of beds: 388 each | Ideal for students from: University of Johannesburg, Wits University.

Thrive@Varsity Studios

Number of beds: 953 | Ideal for students from: University of Pretoria.

Thrive@Festival's Edge

Number of beds: 605 | Ideal for students from: University of Pretoria.

Thrive@Brooklyn Studios

Number of beds: 714 | Ideal for students from: University of Pretoria.

Thrive@StudiosBurnett

Number of beds: 1 000 | Ideal for students from: University of Pretoria.

Thrive@Hatfield Studios

Number of beds: 980 | Ideal for students from: University of Pretoria.

Thrive@Horizon Heights

Number of beds: 810 | Ideal for students from University of Johannesburg, Wits University.

Thrive@Fountains View

Number of beds: 895 | Ideal for students from Sefako Makgatho Health Sciences University, University of Pretoria (Groenkloof Campus), Tshwane University of Technology (TUT).

Thrive@Arteria_Parktown

Number of beds: 481 | Ideal for students from: WITS University Medical and Education Campuses.

Thrive@Crescent Studios

Number of beds: 871 | Ideal for students from: WITS University.
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Healthcare REIT

Growthpoint Healthcare Property Holdings (GHPH) was launched in 2018 as SA’s first unlisted REIT focused exclusively on healthcare real estate. GHPH’s mandate is to acquire and develop acute, day and specialist hospitals, laboratories and biotechnology manufacturing and warehousing facilities.

Growthpoint Properties currently holds a 39.1% shareholding in Growthpoint Healthcare Property Holdings (GHPH), which has attracted keen market interest with over R1.3 billion raised from third-party investors to date. The Healthcare REIT has 9 assets which includes seven hospitals, a medical chambers and a pharmaceuticals warehousing and distribution facility.  These assets enjoy long leases and are considered long-standing landmarks in their communities. Three of the hospitals have consistently been on Discovery Health’s annual list of leading South African hospitals, as rated by their patients.

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Pipeline Developments

The Company continues to build a good pipeline of both development and non-development projects. 

Distributions & Returns

GHPH distributes at least 90% of distributable earnings to investors in March and September each year. The Company has a target for gross ungeared total returns (income and capital) of between 13-16% per annum.

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Healthcare Portfolio

Netcare N1 City Hospital & Medical Chambers

Mediclinic Louis Leipoldt Hospital

Busamed Gateway Hospital

Busamed Hillcrest Hospital

Cintocare

Busamed Paardevlei Hospital

Adcock Ingram

Johannesburg Eye Hospital

Lango

Lango offers a quality portfolio of income-producing assets and has, since its launch in 2018, positioned itself as an emerging leader in the African real estate market. Lango is a real estate company focused on generating compelling and sustainable investor returns through the acquisition of prime commercial real estate assets in key gateway cities across the African continent. Jointly established between Ninety One (previously Investec Asset Management) and Growthpoint Properties, Lango commenced operations in March 2018. The business has since demonstrated significant growth and is emerging as a leader in the asset class in Africa, with assets on its balance sheet diversified across four countries in Africa valued in excess of $600million.

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Lango Land Portfolio

ZAMBIA

Manda Hill
Shopping Centre

NIGERIA

Circle Mall
Ikeja City Mall

GHANA

Junction Mall
Achimota Retail Centre
Accra Mall, Kumasi Mall
Westhills Mall

NIGERIA

Royal Gardens

GHANA

Accra Financial Centre
Standard Chartered Building
Stanbic Heights

NIGERIA

Royal Gardens

ANGOLA

Muxima
Patriota