Got the sad news last night that the inimitable Marc Wainer has passed away. A media-friendly, larger than life personality, and the founder (in 1999) of Redefine Property died of a heart attack. He was 71.
Wainer was also a founding member of the SA Property Owners’ Association (in 1965) which announced his passing in a tweet, saying it was made with “heavy hearts”. For years he was half of a tag team with former Liberty Property head Wolfie Cessman. Wainer stepped down as Redefine’s executive chairman a year after the passing of his wife Lesley.
His life was exposed to public scrutiny through an autobiography, Making My Marc, and was a regular on Business Day television where he hosted a series on mentorship. The rags to riches Johannesburger leaves a big hole in the city’s property sector.
Marc visited us often – here’s a clip from a chat we had in 2015.
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Tributes to Marc Wainer:
Peter Armitage (CEO, Anchor Group)
Marc was a client and partner of Anchor and a friend and example. He took a personal interest in helping us in the early days of our business (for no personal benefit) and it is clear he loved to see other people develop and succeed. He personally phoned me two years ago to encourage me to participate in his mentorship programme to help youngsters – he really cared. He had a quick mind, always spotted the opportunity and was amazingly energetic. In my experience of the short time post his retirement, his energy levels increased and new ideas emerged almost on a daily basis. I negotiated a few deals with Marc and he was very astute, but always interested in fairness and a handshake was always enough to seal a deal. For me Marc personifies the term “doyen” and all of those who crossed his path learnt a great deal from a personal and professional perspective. I felt I had learnt something new every time I had an interaction with Marc. I fondly remember Marc muttering about stock market analysts who did not have a grasp of the real world, when his share didn’t get a buy rating – he believed strongly in what he was doing and the people around him. He was a storyteller extraordinaire and had crowds in rapture as he shared anecdotes of his escapades and deals. Monday 20 April was a sad day for many, and the world will now have less stories, less deals, less colourful enthusiasm and be a poorer place. Lockdown is a particularly tough time for this to happen, but I can’t think of a venue that would be big enough to host a funeral or gathering of all the people that Marc touched in his lifetime.
Louis van der Watt (Group CEO and Co- Founder of Atterbury)
Marc was a real character of the industry but also one of the best dealmakers I ever came across. With his quick mind, complimented by his personality, he pulled off deals which no one else thought possible. He will be missed.
Laurence Rapp (CEO Vukile)
Marc Wainer was a giant of a man. His contribution to the property industry is unquestionable and well known. He will forever be regarded as a legendary deal maker and icon of our industry. However, his greatness went far beyond his contribution to the property world. He was generous with all his means and especially with his advice, mentorship and desire to make our country a better place for all. Marc, you were a mensch, a mentor and a friend. I will miss you and thank you for the positive impact you had on my career. Rest In Peace. May your memory be a constant blessing for your beloved family.
Estienne de Klerk (CEO, South Africa, Growthpoint Properties)
It is with great sadness that we inform you of Marc Wainer’s passing. We have lost an industry leader, wonderful industry character and a good friend. We will send our condolences from the whole Property Industry to his family, friends and colleagues. His legacy will live on in the REIT sector via Redefine.
Stewart Shaw-Taylor (Former Global Head of Property Finance at Standard Bank Group)
It is with great sadness to hear of the passing of Marc.
Marc has been in the forefront of the property industry for more than forty years, from small beginnings to today where the industry is a significant asset class in its own right. Throughout this time Marc has been one of the leading influences in the industry creating many opportunities over the years that have proven successful and added value to all stakeholders. Having known Marc and worked on many transactions with him, there are few equals when viewed against his love of property coupled with his entrepreneurial spirit, deal making skills and sharp mind.
Marc’s generosity in giving back through sharing and mentorship will also not be forgotten. We have lost not only a true giant of the industry but also a friend and he will be tremendously missed by all.
Hadley Dean (CEO of EPP)
A giant has fallen….Marc Wainer had this “Churchill” like ability to both command and condense complex topics into an eloquent turn of phase, that just made sense. But like all great leaders, what we will desperately miss was his honesty, humor and humility he brought to daily life….We in Poland join you in South Africa in mourning the passing of this unique individual, known to many as “Marco Polo” as he was seen by many as Poland’s biggest champion.
Jeff Zidel (Co-Founder Resilient Group)
It was a big shock to hear about the untimely passing of Marc. He was a giant of the real estate industry, with property running through his veins. He was a pioneer of the listed property sector, very innovative (he was the first to have A + B shares) and a great negotiator. He will be greatly missed.
Alex Phakathi (Former CEO Pareto)
I first met Marc towards the end of 2008. I was at Pareto then, and we had just concluded a significant acquisition. Marc was somewhat unhappy that he missed out on the opportunity to acquire that portfolio, but complemented us on the ability to close that particular deal. He later recruited me as the head of acquisition and disposal at Redefine, saying he was going to expose me to his “street wise” way of making deals. During that time I worked very closely with Marc who, as well know, was a “deal making machine”. I learnt a lot from Marc, and since then he was my informal mentor. Almost every other month, I would go and have coffee with him in his office. The wisdom he imparted during these coffee chats was priceless and made it easy to tolerate the smoke.
Simon Fifield (CEO Newpark REIT and Former Head of RMB Property Finance)
“Did I ever tell you what my grandmother used to say about bankers?”
“Yes Marc, you might have mentioned it before…”
“Crooks in suits she’d say…crooks in suits.” This last line consistently delivered with a mischievous grin and a sparkle in his eye.
I am eternally grateful that Marc was always a man to make up his own mind, and in spite of his grandmother’s misgivings, he saw fit to spend time with a young, green financier. The education I received over a 20-year period was unique and ranged from the obvious topics of property and deals to far more philosophical discussions on family, community, innovation, giving back and life in general. Marc’s ability to distill complex issues into a few simple key points was rivaled only by the generosity that he displayed in sharing his time and insights with those who wished to learn from him. Many was the Friday afternoon that I’d spend with Marc – chatting, strategizing, debating – time measured not in minutes or hours, but rather in cigarettes and espressos. I always left with a sense of both awe – for his energy, quick mind, instinct for a deal and ultimately wisdom; and gratitude – for the manner in which he treated me.
At his 70th birthday, when Marc spoke about how much he still needed to achieve and his plans for the future, his love of life was evident to all. And when he ended his speech by telling everyone that he’d see us at his 80th, it never crossed my mind that this would not be the case. Today, I am in a state of disbelief – the property industry has lost a giant, and I have lost a friend and mentor.
Nebil Senman (Managing Partner Griffin Real Estate)
Marc Wainer was not only one of our closest and smartest business partners of Griffin Real Estate, but a great and close personal friend and mentor with a great sense of humour and outstanding kindness. We will miss his energy, creativity and deal-making capabilities – he was one of the greatest investors in the real estate industry. He supported and promoted Poland as a property investment place and was very much valued by the entire Polish real estate community for his visions and contributions. We will miss him and we at Griffin Real Estate would like to express our deepest condolences to his family.
Maciej Dyas (Co-owner and Managing Partner of Griffin Real Estate)
Marc has been our business partner over the last several years. We have executed several deals together such as creation of EPP, ELI and the Chariot transaction. We have valued his down to earth approach combined with the vision and ability to think around the corner. In this time, Marc became also a personal friend. Despite the distance, we had a chance to meet a number of times together with out families. That is how we will miss most – as a warm person and a trusted friend.
Ndabe Mkhize (CIO at Eskom Pension & Provident Fund)
Marc Wainer was a larger-than-life but down-to- earth character who made his mark on and redefine the SA property industry. He was a consummate dealmaker who negotiated the Canal Walk transaction into Hyprop. He amalgamated three property funds (ApexHi, Madison Property Fund Managers and the Fountainhead Property Trust) into a bigger Redefine Properties. He facilitated the formation of black property funds like Dipula and sold assets to Delta. He ventured into Australia, wrote an inspirational book and started a mentorship programme. I have been meeting with him to discuss property for the past 15 years and it always felt like an interesting mentorship in property. Above all, he loved and talked about his family. He will be sorely missed. Lala ngoxolo, Marc.
Andrew Brooking (Co-Founder Java Capital)
We met Marc in 1999. he was the first client of Java Capital, and he introduced us to the property sector. For the more than 20 years that we have worked with Marc, we now him to be unfailingly honest and fair, combining innovation and creativity with outstanding people skills and passionate in chasing the deal and building Redefine and the listed property sector. A loyal friend and an outstanding decent and capable man, 100% a mensch, with a great sense of humour and a rare gift for story telling. Marc, we will miss you and we wish your family condolences and long life.
Warren Lawlor (Co-founder Ferryman Capital)
In the more than 20 years that I knew Marc, he never stopped inspiring me. Marc had an energy and passion that were impossible to match, and an optimism, creativity and persistence that made the improbable possible. Most of all he was a caring and generous family man, leader, mentor and friend. I will miss him greatly as, I am sure, will all the people whose lives he enriched. We extend our deepest sympathy and condolences to his family and all those who loved him.
Anchor stockbrokers
We extend our heartfelt condolences to the family and friends of Marc Wainer.
Marc was a charismatic leader who had a passion and energy that was infectious. Marc was also always willing to give of his time for mentorship and had a hugely positive impact on the careers of many professionals in South Africa.
Rest in peace Marc.
Passing away of South African property doyen Marc Wainer is a loss to the entire sector – Redefine Properties
Marc Wainer, founder, former Chairman and CEO of Redefine Properties, who started his career working in his parents’ grocery and fish shop in Yeoville and went on to build one of the country’s largest and diversified Real Estate Investment Trusts (REIT) listed on the JSE passed away earlier today at the age of 71.
The legendary founder and pioneering property investor and developer Marc Wainer had retired from the company at the end of August 2019.
Marc established himself as a visionary and an astute deal maker over his more than 40 years in the industry, building Redefine Properties, included in the JSE Top 40 Index, into one of the largest REITs with more than 300 local properties with last reported total assets exceeding R100 billion.
He was also instrumental in transforming Redefine Properties into a global REIT with interests in commercial property diversifying into new markets such as Poland, United Kingdom, Germany and Australia and alternative investments such as student accommodation, as-well-as a once off residential play.
“I am at a loss for words and deeply saddened by Marc’s passing away. He leaves a void in the lives of people in the entire property sector who did not escape his characteristic wit, infectious laughter and his genuine love and concern for those he worked with,” says Andrew Konig, CEO, Redefine Properties.
“Marc was a true family man and our thoughts and prayers are with them during this difficult time.”
“His passing away is also a huge loss to the sector and we will all miss his guidance and encouragement. Marc always said that people are the only thing that matter. Our tribute to him will be who we say we are and continue to grow the business he founded and continue to manage and create our spaces in a way that purposefully changes lives,” adds Konig.
“Marc leaves an extremely powerful legacy. He will always be remembered as a legendary leader, a game-changer in the property sector, and someone who changed the lives of many who had the privilege of working with and knowing him, including those whose lives he touched via The Mentorship Challenge. He truly ‘walked the talk’ on his passion for people, property and giving back through mentorship.”
Marc will be missed but never forgotten.