CASE STUDY ONE
About six years ago, advertising agency executive Richard Rubin got interested in central Johannesburg as an outdoor art venue.
Then he became interested in the buildings themselves. "I saw office buildings being converted to residential in many reviving cities. I had no capital, but ApexHi was willing to back me."
Today Rubin and his partners in Aengus Holdings have 600 flats and are developing more.
CASE STUDY TWO
A commercial property consultant who knows the investment market well came upon a small institutional property in a sought-after area in Johannesburg. A national tenant occupied a major portion and its lease had expired.
As few institutional managers tramp the streets getting to know markets, he managed to " persuade them that the building was worth a market-related price because the future income was high risk." He renegotiated a new lease and expects to let the vacant space for a 25% return.
