Rebosis Property Fund continues the property sector's better than expected earnings streak.

Delta Property Fund acquires Old Mutual Centre in Smith Street‚ Durban, as well as the adjacent parking bay facilities, and The Marine and its parking facilities from Old Mutual Life for R487m.

Tembisa Mega Mart development in Gauteng has a new buyer in the form of Delta Property Fund‚ after a previous deal to acquire the township mall failed.

2014 has confirmed that the listed property sector is moving from a cycle of new listings, into one of consolidation.

The R250bn listed property sector, one of the JSE's most active in terms of merger, acquisition and listing activity in recent years, saw deal flow surge a whopping 60% last year.

Thursday, 13 February 2014 13:52

Rebosis‚ Delta put Ascension bids on hold

Black-controlled Rebosis Property Fund and Delta Property Fund have put their respective take-over bids for Ascension Properties on hold to avert a protracted bidding war for Ascension's lucrative R3.2bn portfolio of government-tenanted offices.

Surprise claims that Ascension has signed agreements to sell its management company simultaneously to Rebosis and Delta‚ unbeknown to the other party stuns property analysts.

Delta Property Fund today announced that it has concluded agreements to acquire a 17.75% stake in Ascension properties, and has received letters of support from institutional investors, which together effectively secure Delta a major 41.40% investor voting bloc in Ascension.

Delta Property Fund says it is entitled to a R10m break fee following Monday's announcement that Rebosis would acquire Ascension's management company for R150m.

Delta Property Fund announce R1bn acquisition of various letting enterprises and properties

Page 7 of 9

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