Knight Frank South Africa rebrands to Galetti following investment deal

Posted On Tuesday, 11 December 2018 13:34 Published by
Rate this item
(1 Vote)

One of South Africa’s leading office and industrial real estate consultancies, Knight Frank South Africa, has rebranded to Galetti Corporate Real Estate after concluding an investment deal with black-owned private equity business, Symmetry Capital Partners.

 JOHN-JACK-

The deal sees Symmetry Capital Partners acquire 30% equity of Galetti Corporate Real Estate, in a rebrand which seeks to better align the company with the South African market. 

The significant investment by Symmetry Capital into the real estate services sector sees the company looking to capitalise on Galetti’s position in the market as well as their unique IP and proprietary real estate software which it has built since being founded in 2006. In what Symmetry Capital Partners viewed as serious potential, the company has turned over in excess of R20bn of real estate since inception.

John Jack was appointed Galetti’s new Chief Executive Officer in June 2018. Jack, who has been with the company since 2010 when he joined as Gauteng Director tasked with securing a foothold in the province, replaced Tony Galetti and Francois Staples, who remain on the Galetti board as Non-Executive Directors. 

Jack said one of the key elements in bringing the deal to fruition was to once again trade under the Galetti name, and that the deal will further align the company with the property charter and allow for targetted growth in the corporate real estate services sector.

“Our strategy to align the company with the South African market led to talks with Symmetry Capital Partners. One of the key elements of the deal was to once again trade under the Galetti name – a reputable brand with huge growth and a solid track record in the commercial property space,” said Jack.

The residential and valuations businesses in South Africa will continue as Knight Frank, headed by CEO Richard Hardie.

Last modified on Tuesday, 11 December 2018 13:42

Most Popular

Mall of Africa Celebrates Launch of New Generation Pick n Pay Store

Sep 23, 2019
 MOA PNP  1
Today Mall of Africa welcomed one of South Africa's biggest grocery retailers to the…

Exemplar REITail Acquires Katale Square Shopping Centre

Sep 23, 2019
 JASON MCCORMICK
Real estate investment trust, Exemplar REITail, has acquired Katale Square shopping…

Grit Real Estate financial results for the year-ended 30 June 2019

Sep 30, 2019
 BRONWNY CORBETT
London Stock Exchange listed Grit, the only listed Africa-focused income distribution…

4AX listed Heartwood Properties reveals positive financial results

Sep 23, 2019
 JOHN WHALL
Commercial property development company, Heartwood Properties , has revealed a 30%…

Reserve Bank keeps repo rate unchanged

Sep 23, 2019
 LESETJA KGANYAGO
 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line…

Please publish modules in offcanvas position.