Safari Investments, the Pretoria based low LSM retail property fund, today announced the receipt of a firm intention proposal from Community Property Company , an unlisted property fund in the Futuregrowth Asset Management stable, to make a R1.8 billion all cash clean offer to acquire the entire issued share capital of Safari.

Community Property Fund owns 30 shopping centres with a combined value of R3.3bn in seven provinces.

Africrest Properties is pleased to announce that they have secured a financing facility with Futuregrowth Asset Management.

'Excitement' has been building in property circles about the impact that the Public Investment Corporation (PIC) property investment strategy should have on the local property landscape. While some underpin can be expected, but it may not live up to initial expectations