In the last decade, SA REITs have proven their ability to operate successfully on the international stage and play in almost any market in the world. But does this make them truly global real estate players?

Fountainhead Property Trust CEO Len van Niekerk resigns as executive director and Andrew Konig is appointed as the CEO with effect from November 30‚ says company.

Fountainhead meets guidance with annualised distribution growth of 6.85% and improves its property portfolio.

Fountainhead Property Trust, which is managed and 66% owned by Redefine Properties, this week released 27 of its relatively smaller properties to the market.

Fountainhead Property Trust today declared an interim distribution of 29 cents per unit for the six-month period to 28 February 2014, representing distribution growth of 11% from the first half last year.

Fountainhead Property Trust has agreed to acquire the prime industrial property belonging to Robor Pty Ltd at 233 Barbara Road, Elandsfontein, in Ekurhuleni east of Johannesburg, for R570.7 million.

It will probably take at least another 12-24 months before Redefine Properties achieves its ultimate goal of a full takeover of Fountainhead Property Trust’s R11,1bn portfolio.

Fountainhead Property Trust declared a distribution for the 11 months to 31 August 2013 in line with market guidance and 2% down on its distribution for the comparable 11 months in 2012. 

Former SA Corporate Real Estate Fund MD Len van Niekerk has been appointed by Redefine as CEO of Fountainhead.

When will SA Corporate begin delivering sector-average income growth again? That’s the million dollar question that long-suffering shareholders are no doubt pondering after another below par performance from the Old Mutual-managed property fund.