Gauteng, South Africa, July 3rd 2015: South Point, established in 2003 and headquartered in Braamfontein, Johannesburg, acquires and redevelops distressed and underutilised inner city properties to provide affordable, convenient accommodation to students and employed young urban graduates. Its growing portfolio already comprising more than forty buildings provides accommodation to 10 000 students and is the largest provider of private student accommodation in South Africa.
Through LMCGF, Metier invested alongside Conexus to define the market for private student accommodation in South Africa through a series of expansionary tranches. The business provides accommodation to students and young professionals not only in its Braamfontein precinct but also in Pretoria, Cape Town, Port Elizabeth and Durban.
The Unemployment Insurance Fund managed by the Public Investment Corporation (PIC) acquired South Point in June 2015.
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