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Diversified property group Arrowhead Properties has ambitions to make sizable acquisitions in 2017.
Ascension Properties grows its distributable earnings by R238.6m in the year to August.
Rebosis Property Fund, the JSE’s first listed black-managed REIT, sustained strong distribution growth for the year ended 31 August 2016.
Value of shopping centre owner New Frontier Properties' assets has been under pressure.
Listed property continues to be an attractive investment compared with other asset classes, but it is likely to achieve single digit total returns this year.
Rebosis Property Fund, the JSE’s first listed black-managed REIT, today announced that it has obtained overwhelming shareholder support to acquire two large, regionally dominant retail centres as well as the services companies from property developer Billion Group (Pty) Limited.
Shareholders are advised that Rebosis has concluded an agreement for the disposal of the property letting enterprises in respect of the 3 properties known as 28 Harrison Street, 124 Main Street and 64 Eloff Street (the “properties”) to Southern Palace Group of Companies Proprietary Limited (“Southern Palace”) for an aggregate consideration of R847 498 292 (exclusive of VAT at zero percent) (the “disposal”).
Rebosis Property Fund is positioning itself for a rerating, which will attract larger investors and enable the company to join global indices.
Rebosis Property Fund changes the terms of its takeover deal with developer Billion Group following pressure from investors who said the retail-focused group was overpaying for some assets.
Furry of new listings, mergers and acquisitions in the JSE's R450bn listed property sector continues unabated.