Having assessed the possibility of merging with a number of its funds under management, Madison Property Fund Managers has lifted the cautionary under which it has been trading since March 2008

Hyprop Investments says it is 'no longer a party' to merger discussions with the Madison stable of listed property companies.

ApexHi Properties Limited has announced a 20,6% increase in quarterly distributions for the period 1 January 2008 to 31 March 2008, with a combined quarterly distribution of 85 cents (2007: 70,50 cents)

With acquisition activity having slowed, ApexHi Properties Limited aims to invest R1-billion in refurbishment projects to grow income in its portfolio. Projects worth R570-million are already underway, and refurbishments for a further R357-million are currently in planning phases.

South Africa's largest JSE-listed property asset manager, Madison Property Fund Managers has achieved a total distribution of 76 cents per linked unit for the year ended 31 December 2007, 30% higher than the annualized maiden distribution of 39 cents for 2006

Increase in income attributable to rental escalations as well as higher rentals being achieved on renewals

ApexHi Properties Limited is well positioned to take advantage of the current buoyant property market. But perhaps more importantly, the company is also well protected against a potential downturn in the property cycle

The PLSA summarises the latest transactions in the sector

ApexHi Properties Limited has spent R225-million on refurbishments in the year to end June 2007, and a further R226,5-million has been approved for refurbishments during 2008

ApexHi Properties Limited concluded 1,400 leases worth more than R1,4-billion in the 12 months to end June 2007