Today, Spear’s property portfolio history consists of 25 properties situated throughout the Western Cape, save for one property in Gauteng, with a total value of approximately R1.39 billion, a net asset value of approximately R568 million (prior to the Capital Raisings) and which generates a forward net property related revenue of approximately R128.1 million (based on actual contractual revenue). The property portfolio comprises a well-balanced mix of residential (5%), industrial (37%), retail (22%), office (27%), hospitality (7%) and other (2%) assets. The total gross lettable area of the property portfolio is 171 786 m² of which 28% is let to single tenants and 72% to multiple tenants, ranging from JSE listed entities to SMEs. After the listing, Spear will continue to invest across the real estate sectors, however it will maintain a strict Western Cape focus with a Cape Town bias. Although Spear will initially list as a REIT on the Alternative Exchange, over time it is the intention of management to migrate its listing to the main board of the JSE.“REIT” is a public company listed on the Johannesburg Stock Exchange (JSE) asa real estate investment trust.