Putprop: Firm seeks only the best buys

PUTPROP, the separately listed former property investment company of delisted bus transport operator Putco, is considering a short list of properties with blue chip national tenants as possible acquisition targets. This follows the fund last month raising more than R100 million in a rights offer to provide it with additional capital to refocus its property portfolio. The aim of this exercise is for the fund to hold fewer, larger properties with greater predictability in earnings and reduce the company’s risk profile. – Roy Cokayne