The Cavaleros Group has announced its acquisition of the iconic Portside Towers – the tallest building in Cape Town and a defining landmark within the city.

This acquisition marks a significant milestone for the Group and disrupts the market by placing emphasis on its confidence in the continued growth and resilience of the commercial property sector. By bringing this distinguished and highly visible address into its expanding portfolio, The Cavaleros Group reaffirms its strategic commitment to investing in high-value, growth-driven assets that strengthen its national footprint and long-term vision.

Portside Towers soars 139 metres in height – a defining symbol of modern architecture. Under The Cavaleros Group’s ownership, the building comprises 24 414m² of premium office space and 740m² of retail with a total GLA of 25 154m².

Completed in 2014, Portside Towers was marked as the first major addition to Cape Town’s skyline in over fifteen years. It also set a national benchmark as the first high-rise of its kind in South Africa to achieve a 5-Star Green Star rating from the Green Building Council of South Africa.

This acquisition represents far more than a mere change of ownership; it reflects The Cavaleros Group’s confidence in Cape Town as a leading market for premium commercial and mixed-use assets.

The acquisition of Portside Towers is a high-impact addition to the portfolio. The building’s mid-zone offers panoramic views of Table Mountain and the cityscape. Its prime position, bordered by Buitengracht, Hans Strijdom, Bree and Mechau Streets, has long reinforced its strength in the commercial property market.

Portside Towers is anchored by a robust mix of blue-chip tenants, reflecting its long-term stability, sustained market confidence, and continued appeal as one of Cape Town’s most prestigious commercial addresses.

As of August 2025, the building was effectively fully let, currently demonstrating robust tenant retention trends. This tenancy profile reflects a well-diversified tenant mix from international corporates, professional services, and retail operators, positioning Portside Towers as one of the CBD’s most resilient office assets.

“The acquisition of Portside Towers reflects our confidence in the long-term strength of Cape Town’s prime commercial property market. At The Cavaleros Group, we don’t merely acquire buildings – we invest in their potential, build irreputable reputations, and ensure that every asset is positioned to thrive for generations to come,” says Penny Cavaleros, CEO of The Cavaleros Group.

“True growth begins when you know your subject. It is when you understand not only the physical dimensions of an asset, but the economic that defines its positioning in the commercial landscape. Portside Towers embodies that philosophy: a perfect balance of architectural distinction, commercial resilience, and long-term potential.”

The Cavaleros Group is embarking on a phased programme of tenancy evaluation and asset-management optimisation to ensure that Portside Towers continues to stand as Cape Town’s premier commercial address. This strategic initiative will strengthen the building’s position as a flagship destination within the CBD and support its long-term value for tenants, partners, and stakeholders alike.

At the heart of The Cavaleros Group is the guiding ethos, Filotimo, a uniquely distinct and untranslatable Greek value principle. Filotimo encompasses an unwavering commitment to doing what is right, honourable, and principled. It reflects integrity, moral conviction, respect for others, and a deep sense of responsibility. At The Cavaleros Group, Filotimo has become an ethos that champions ethical decision-making, accountability, and a duty to act with transparency and purpose.

With Penny Cavaleros spearheading the organisation, The Cavaleros Group embeds this ethos into every facet of its operations, ensuring that each decision balances commercial excellence with the moral responsibility that defines the organisation’s character and legacy.