A Madison investment initiative, Phoenix has been responsible for many of South Africa's most innovative and successful property transactions behind it. It takes an impeccably-timed venture, with an exceptional executive team, to leverage opportunities in a global economic downturn, but Global Phoenix Investments Limited intends to do just that.

Phoenix, the international investment arm of SA-based Madison Property Fund Managers, is being listed on the Bermuda Stock Exchange towards the end of June to take advantage of undervalued property portfolios in key global marketplaces.

"With listed property trading at 20% to 30% of 2007 prices, there are real opportunities for investors to acquire meaningful stakes in undervalued listed property companies," says UK-based Phoenix chairman Jim Shankland. "Phoenix is already scouting opportunities throughout the UK, continental Europe, Australia and even the US." Phoenix's investment objective is straightforward. "We expect to achieve a 30 percent annual compound return, and intend to reassess the situation in five years time. At that stage, we will decide whether or not to sell out, or to continue with our investment strategy," elaborates Shankland.

Taking Phoenix global and achieving that attractive return may sound like an ambitious goal, but it lies in solid hands.

Shankland, for a start, is the former managing partner of Ryden Property Consultants in the UK and past Chairman of RICS Scotland. He has more than three decades of experience in both European and SA property markets.

Indeed, during the property crisis of the early nineties, he focused on turning around distressed UK assets, experience that serves him well in the current climate. He also conducted a year-long review of Cape Town's V&A Waterfront for Transnet in 1996.

Since 2005, Shankland has been focusing on private equity property syndicates.

The rest of his executive team is no less seasoned and includes doyens of the SA property arena like former Liberty Life Properties MD Wolf Cesman; former head of Anglo American Property Services and current CEO of ApexHi Properties Gerald Leissner; and esteemed property dealmaker Marc Wainer, who founded Investec Property Group. The young gun of the pack is Mike Flax who founded Spearhead and turned it into the top-performing listed property stock on the JSE before selling it. Mike will lead the Phoenix management team on a full-time basis.

"The management team will personally be big investors in Phoenix, something that should create enormous confidence amongst other investors," says Shankland.

But time is running out for interested investors. Offers close on this unique investment on 19 June 2009.

"We believe that Phoenix presents a once-in-a-generation opportunity to capitalize on worldwide market recovery, and we believe others will agree," adds Shankland.

A Madison investment initiative, Phoenix has the weight of the team that has been responsible for many of South Africa's most innovative and successful property transactions behind it.

Madison is South Africa's largest JSE -listed property asset manager responsible for the management of three highly differentiated loan stocks ApexHi Properties, Redefine Income Fund and Hyprop Investments. Madison is set to merge with Redefine and ApexHi, with only the final statutory requirements awaiting fulfillment, to become South Africa's second largest listed property fund.