Redefine gets the green light on Annuity deal

Monday, 24 March 2014 21:13

Property acquisitions can be overdone

Smaller property funds are finding it difficult to compete in making acquisitions because of the increased cost of funding, this makes them targets for takeover by larger rivals.

Redefine and Annuity Properties informed the market that they have agreed that Redefine will acquire the entire issue capital of Annuity by way of a scheme of arrangement, and Annuity's asset and property management companies.

Annuity Properties says it will acquire the property portfolio of Clarins SA‚ a subsidiary of international luxury cosmetics company Clarins Group.

Annuity Properties reports strong portfolio growth with a 148% increase in portfolio size to R1.4bn for the year ended March 2013.

Annuity Properties (ANP) said on Monday it had acquired Clearwater Office Park for R258.52 million in cash.

Monday, 26 November 2012 17:06

Listed Property Sector Recovery Continues

South Africa’s listed property sector continued its recovery last week and was up 5.3% for the month by 26 November. The sector gained 1.3% last week, comprising a 0.6% increase in prices and a further 0.7% from income received by investors 

Monday, 30 April 2012 02:00

Annuity to list with four assets

Company seeks listing in order to raise capital to pursue investment opportunities in order to help it grow to a R5 billion mixed commercial/industrial portfolio

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