Redefine International (RI), a South-African backed REIT focused on UK real estate and German retail assets, has announced plans to rebrand as RDI REIT, short for Real Estate Diversified Income REIT, from next month.
RI, part of South African group Redefine Properties, one of the largest listed REITs in South Africa, said the name change reflects the company's ambition to become 'the UK’s leading income focused REIT'.
It also suggests a shift away from its largest shareholder, Redefine Properties, which has a roughly 30% stake.
'With the new name and brand we aim to establish a clear, independent identity, whilst maintaining some continuity by keeping reference to our UK RDI ticker,' said CEO Mike Watters. Alongside the new name the company is also relocating its London head office to 33 Regent Street, London later in December.
RI manages a €1.7 bn diversified portfolio focused on the UK and Germany. The UK REIT has a secondary listing on JSE, alongside the primary one in London.
