Texton completes exit from Blackstone access fund, locks in 30% return

Texton Property Investments UK Limited (TPI), a subsidiary of Texton Property Fund Limited, has sold its remaining 4,945.4466 shares in the Blackstone Real Estate Income Trust iCapital Offshore Access Fund ("Access Fund") on an effective trade date of August 31, 2025. This follows a partial redemption of 4,614.1917 shares disclosed on July 3, 2024, completing the exit from the investment initially acquired during the 2022 financial year.

The disposal of these shares was executed at a ZAR value of R110 759 821, significantly higher than the average acquisition price of R98 367 651. Including the July 2024 partial redemption and dividends received, the investment yielded an approximate total holding period return of 30.37%. The proceeds from the disposal will be used to recycle funds in line with the group's investment strategy and strengthen its balance sheet.

Texton stated that the investment in the Access Fund, which focuses on stabilized, income-generating U.S. commercial real estate, aligned with its strategy to increase offshore property exposure and provided stable cash distributions and positive currency returns due to the South African Rand's depreciation. The transaction is classified as a category 2 transaction under JSE Listings Requirements and does not require shareholder approval.