Ascension Properties beat its portfolio growth target in its year ended June, with its property portfolio growing 46% to R3.7bn.

Ascension half year distribution seen up 17%-27%

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.

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