JSE listed REIT Ascension Properties Limited today announced its acquisition of Surrey House in Johannesburg.  

Property income fund Ascension Properties Limited today reported an excellent set of results for the year ended 30 June 2013.  

Ascension Properties (AIA) has bought Atterbury House in Cape Town‚ which includes the property and buildings known as Shell House and Ovenstone House from Atterbury Investment Holdings (AIH)‚ the company said on Wednesday.

Since listing on 11 June 2012, Ascension’s property assets have increased by R1,5 billion to R2,3 billion.

Investors may still be wary of exposure to government-tenanted buildings after a number of public works leasing scandals hit the headlines last year.

Transformation within the property industry and the growth of the listed property sector in South Africa is set to receive impetus following the finalisation of a R45 million loan agreement between Nedbank Corporate Property Finance and Ascension Properties Limited.

Ascension published its results for the six months ended 31 December 2012 and declared a second interim distribution of 3.17 cents per A-linked unit and 1.43 cents per B-linked unit, payable on 4 March 2013.

South Africa’s listed property sector finished November on a high, gaining 1.8% in the final week. For the month of November, the sector gained 6.7%, comfortably outperforming both the equity (2.6%) and bond (0.9%) markets in South Africa.

Listed property loan stock Ascension Properties Limited have announced that its proposed acquisition of a R1 billion commercial property portfolio from Capital Property Fund is now unconditional.

Ascension Properties Limited, which was established in 2006 as a black owned and managed property loan stock company to invest in assets and opportunities within the commercial property sector in South Africa, will be focussing on government tenanted commercial office opportunities

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