Emira Property Fund today announced that CEO James Templeton has resigned to pursue personal interests outside of the listed property sector, effective from 31 August 2015.
The process to replace him is underway, and Emira confirmed an announcement in this regard is expected shortly.
Ben van der Ross, Chairman of the Emira Board, comments: "We acknowledge and thank James for his dedication and contribution as Emira Chief Executive Officer since July 2004. We wish him everything of the best for his future endeavours."
Templeton leaves Emira in a healthy position after his 11 years as CEO, with distribution growth of 9% in the six months to December 2014, and a similar outlook for the year to June 2015, and vacancies well below industry averages. "The outlook for Emira is positive, it has a great team in place, a strong board and an outstanding portfolio of assets, so investors' interests are being extremely well looked after" says Templeton.
Emira is a JSE-listed SA REIT (real estate investment trust) invested in a quality diversified portfolio of office, retail and industrial properties. Its assets comprise 148 properties valued at R12.5 billion. Emira is also internationally diversified through its direct interest in ASX-listed Growthpoint Properties Australia (GOZ), valued over R700 million, with total assets now at R13.5 billion.