Capital & Regional announced the appointment of Panico Theocharides as a Non-Executive Director with effect from 22 February 2023. Panico replaces George Muchanya as one of Growthpoint's nominees on the Board. Panico has recently joined Growthpoint as Head of Investments.

Panico has over 20 years' experience in the real estate investment industry, with much of this time focused on the Johannesburg Stock Exchange ("JSE") Listed Real Estate sector. For the last five years Panico has worked as an independent property consultant. Prior to this he was Head of Property Advisory, Corporate Finance at Investec in Johannesburg, South Africa, with overall responsibility for strategic direction and client relationships for the property advisory team within corporate finance.

Panico was the Joint Chief Executive Officer of Annuity Properties Limited ("Annuity"). He helped found and subsequently list the company on the JSE in May 2012, at which time it converted to a Real Estate Investment Trust ("REIT"). Following the listing, Panico led Annuity's growth strategy, building an attractive portfolio of A-Grade retail and commercial assets, from four properties valued at R486m at the time of listing to 20 properties valued in excess of R2 billion within an 18-month period.

In 2014, Annuity was successfully sold to Redefine Properties Limited.