As if on cue, shares in the suitably named Resilient REIT roared, entrenching themselves in the pound seat, after the firm churned out yet another bumper set of earnings numbers.

Diversified property group Capital Property Fund report double-digit growth in distributions for the year to December

Capital Property Fund's strategy to increase its exposure to rand hedge sister companies New Europe Property Investments and Rockcastle Global Real Estate Company continues to pay off.

Capital Property Fund share price closed almost 1% higher at R10.42 on Wednesday after the fund reported growth in distributions for the six months ended June at the upper end of its initial forecast, and also revised its full-year guidance upwards.

JSE-listed Capital Property Fund foresaw an opportunity when it acquired Clairwood Racecourse to convert it into a warehousing and logistics park, according to Galetti Commercial and Industrial, the brokerage firm that negotiated the transaction.

Resilient Property Income Fund and its wholly-owned subsidiary Property Fund Managers have agreed terms of a transaction that would internalise the management of Capital Property Fund — a property unit trust managed by Property Fund Managers, the companies said on Friday.

Latest results from Capital Property Fund, the JSE’s fourth-largest real estate counter, with a market cap of R17bn, underscore the extent to which cashstrapped SA businesses are cutting back on expansion plans.

Property unit trust Capital Property Fund reported on Wednesday a 6.32% increase in total distributions to 69.78c per unit for the year ended December 31.

Thursday, 01 December 2011 02:00

Capital bond issue a success

Despite volatile market investors still keen, oversubscribed issue shows the market has an appetite for credit where property assets are high quality

Wednesday, 03 August 2011 02:00

Capital to focus on new developments

Capital Property Fund says its merger with Pangbourne has allowed it to focus on new developments to grow and rejuvenate its portfolio.

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