ApexHi Properties Limited has declared a quarterly distribution of 25,5c per A unit and 27,25c per B unit for its third quarter 1 January 2004 to 31 March 2004.

LISTED property loan stock giant ApexHi Properties yesterday declared a quarterly distribution of 25,5c for each of its A-units and 27,25c for each of its B-units for the three months to March 31.

The property loan stock company continues to provide investors with a sustainable income through its innovative unit structure, limited gearing and a strategy to maximise value in secondary located properties with sound tenant profiles

Improved property fundamentals and sound risk management will continue to drive selected listed property prices in 2004, generating returns to investors at very acceptable levels when compared with other investments.

PROPERTY loan stock company ApexHi Properties said yesterday that it would sell four Johannesburg central business district buildings to the Gauteng provincial government for R154,4m.

ApexHi Properties can count a government department, Woolworths and Juta Bookshop among its new tenants.

Pretoria - ApexHi, the listed property company, hoped to reduce its gearing from 31.6 percent to 25 percent in the next two years by giving preference to acquiring properties with as low a cash component as possible, Gerald Leissner, the chief executive, said yesterday.

Property loan stock company ApexHi Properties is continuing to maintain high trading volumes, with an average of more than 42% of its units in issue trading in the 12 months ended June 30.

ApexHi Properties can count a government department, Woolworths and Juta Bookshop among its new tenants.

Pretoria - ApexHi, the listed property loan stock company, has acquired 111 Commissioner Street in Johannesburg's central business district from private investors for R54 million.