MAIN IMAGAE: John Jack, CEO Galetti Corporate Real Estate
The office and industrial real estate division of 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.
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, Galetti’s CEO, 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.
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