South African-born real estate tycoon Barry Stuhler is set to retire from the board as a non-executive director of Resilient REIT, bringing to a close another chapter in a property career spanning more than three decades and linking some of South Africa’s best-known listed real estate companies.

Barry Stuhler, a founding director of Resilient REIT, will retire as a non-executive director with effect from Sept. 1, 2026, the South African real estate investment trust said in a notice to shareholders and noteholders on Aug. 26. The board expressed its appreciation for his contribution to the company and wished him well in his retirement.

The retirement comes after Stuhler returned to the Resilient board in August 2023 as a non-independent non-executive director, bringing with him decades of experience across property management, investment, corporate advisory and listed real estate.

His departure from the board does not mark the end of his connection to the property sector. Stuhler has built a substantial investment position in Lighthouse Properties, the Malta-based real estate group with a portfolio spanning major European markets, while his career has included senior leadership roles at Capital Property Fund and Pangbourne Properties.

From chartered accountant to property executive

Stuhler’s career began in accounting after he completed his articles with Arthur Young and qualified as a chartered accountant. He later gained experience in financial markets through the management of the Part Bond Scheme and Gilt Fund for Hill Samuel Merchant Bank.

His career then moved firmly into property. He became financial director of Integrated Property Resources and later managing director of Intaprop Management Services, the property management company of the Intaprop Group.

In 1994, Stuhler co-founded Inline Properties, a property management and corporate property advisory company, laying the foundation for a career that would increasingly centre on listed real estate and property investment. He was also a founding director of Resilient, the property group that would become one of the defining platforms of his career.

Building a career across South Africa’s listed property sector

In 2004, Stuhler became managing director of Property Fund Managers Limited, the asset manager of Capital Property Fund. Three years later, he joined the board of Pangbourne Properties as an executive director before becoming the company’s managing director in 2008, a position he held until 2015.

Following the merger between Capital Property Fund and Pangbourne, Stuhler was reappointed as managing director of Property Fund Managers. He later retired as an executive director following the merger between Capital and Fortress Income Fund.

His career has consequently been closely connected to some of the major transactions and corporate structures that shaped South Africa’s listed property market. That experience also positioned him as a significant investor in the sector, with holdings extending beyond the companies where he served in executive and board capacities.

A major shareholder in Lighthouse Properties

Stuhler has also emerged as one of the notable individual investors in Lighthouse Properties, the Malta-based real estate company listed on the Johannesburg Stock Exchange.

Lighthouse owns a diversified portfolio of retail properties across European markets including France, Portugal, Slovenia, Spain and the United Kingdom.

Historical Lighthouse disclosures show the scale of Stuhler’s investment in the company. In 2021, he was reported to hold 76.08 million Lighthouse shares, equivalent to 6.09% of the company at the time.

By 2023, Stuhler’s reported Lighthouse holding had risen to 172.7 million shares, representing a 9.72% stake, making him one of the company’s significant shareholders.

His association with Lighthouse, however, predates his current investment position. Stuhler served on the company’s board for several years before resigning as an independent non-executive director in March 2023. Lighthouse subsequently thanked him for the depth of property experience and independent thinking he had brought to the board.

Returning to Resilient

Stuhler’s relationship with Resilient dates back to the company’s formative years alongside his friend Desmond de Beers. He was a founding director and later returned to its board in August 2023 as a non-independent non-executive director. His appointment brought back a property veteran whose career had been intertwined with the development of several important South African listed property businesses.

Stuhler’s retirement from the Resilient board will therefore close a long corporate relationship with the group, even as his investments and legacy across the listed property sector continue to connect him to the industry.

For a businessman whose career has moved between accounting, financial markets, property management, investment management and corporate leadership, the retirement represents the latest transition in a professional journey that has helped shape South Africa’s modern real estate landscape.