A lack of new business growth is keeping the office property market in the doldrums, according to a report released on Monday by global real estate services firm Jones Lang LaSalle.

Redefine Properties today reported distribution growth of 7.3% to investors for the year ended 31 August 2013, outperforming expectations. Redefine’s net asset value increased by 8.6%.

Monday, 21 October 2013 23:15

Fountainhead takeover delayed

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.

Wednesday, 19 June 2013 09:44

Fountainhead Property Trust names new CEO

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

Redefine Properties said on Friday it had received confirmation from the JSE that the bourse had found no breaches of its listing requirements in relation to the battle for Fountainhead Property Trust’s portfolio.

For the first time Redefine Properties Limited received the IAS Best Reporting and Communication Award for the best presentation to the society by a company with market capitalisation between R5 and R30 billion for the 2012 financial year.

Redefine Properties CEO Marc Wainer retires from the board of Hyprop Investments.

Redefine Properties seized the opportunity to increase its direct holding in Australian listed Cromwell Property Group this week by taking up Aus$65.6 million of Cromwell’s capital raise, which will partly fund Cromwell’s successful acquisition of a portfolio of government properties

Redefine Properties linked unit price rallied 3.7% to close at R11.20 on Thursday after the company reported growth of 7% in distributions to 33.7c per linked unit for the six months to the end of February.

Redefine Properties today reported 7% growth in its interim distribution of 33,7 cents per linked unit for the six months ended 28 February 2013, achieving the top end of its market guidance. 

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