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The Stonehill Property Fund, headed by CEO Shaun Rai, acquired Safmarine House from Old Mutual in July 2014. The building currently houses a mix of commercial tenants.

The Fund’s investment strategy is to create a focused portfolio of significant critical mass through the acquisition of high-quality commercial properties that generate a stable income, with a weighting in favour of apartments in Cape Town CBD and surrounding areas.
Value-enhancing investment opportunities are evaluated by the Board for acquisition on an on-going basis. Stonehill may also, from time to time, re-develop properties to enhance value and support longer-term income and capital growth. Safmarine House is an example of this approach.

Shaun Rai has established various successful property investment companies, including the JSE-listed Ascension Property Fund Limited, of which he is Acting CEO. Since listing in June 2012, Ascension delivered total returns of 73.7% and 82.6% on its A-linked units and B-linked units respectively.

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Owner of Radisson Cape Town development
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