Wednesday, 24 April 2013 15:29

Hyprop Investments to raise R1bn in bonds

Hyprop Investments, a shopping mall owner with clients including Body Shop and Timberland, wants to raise almost R1bn in bonds to reduce its debt-servicing costs.

Monday, 15 April 2013 01:17

Hyprop exits Sycom through share swap

Hyprop will acquire the 66317m² Somerset Mall from Sycom Property Fund in a share swap arrangement, allowing Hyprop to exit its 34% stake in Sycom.

Leading JSE shopping centre fund, Hyprop today announced its R2,3 billion acquisition of Somerset Mall from Sycom Property Fund ("Sycom"), in line with strategy to invest in sizeable quality shopping centres.

Thursday, 28 February 2013 08:35

Hyprop’s Distribution growth continues

Leading JSE shopping centre fund, Hyprop, reported distributions up 6,8% to 409 cents a unit for the year to December 2012

Redefine offer for Fountainhead 6% higher than previous, and represents full price for the Fountainhead portfolio and contains a higher proportion of Hyprop units

Monday, 19 November 2012 12:26

Hyprop Sells Southern Sun Hyde Park

Hyprop announced the sale of the Southern Sun Hyde Park Hotel to Southern Sun, the current operator of the hotel, for R130 million. The move is in line with Hyprop's strategy to dispose of non-core assets.

Thursday, 01 November 2012 06:13

Sycom accepts JSE censure over unit issues

Listed property unit trust Sycom Property Fund said it "accepted" the JSE’s censure regarding three general issues for cash in 2010 and 2012, for which Sycom did not obtain unitholder approval, and said it did not believe it would be in the interests of unitholders to take the matter further.

Redefine has confirmed that its indicative offer to acquire the property assets of Fountainhead Property Trust remains on the table, unchanged, notwithstanding yesterday's counter offer for this portfolio.

Wednesday, 24 October 2012 08:03

Bidding war for Fountainhead begins

Growpoint, the JSE's biggest property company with a market capitalisation of about R44bn, on Tuesday started a bidding war against Redefine, the JSE's second biggest weighing in at about R29bn, for Fountainhead Property Trust's R10.3bn portfolio.

South Africa's listed property sector rallied 2% last week as the Rand strengthened and bond yields fell.

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