Growthpoint Properties Limited, South Africa's largest listed property loan stock company, announced an interim distribution of 33,5 cents per linked unit for its six-month period ended 31 December 2003 representing a 4.7% increase in distribution over the comparable six-month period in 2002.

LISTED property group Growthpoint Properties, the largest property fund on the JSE Securities Exchange SA, yesterday reported a 4,7% increase in the interim distribution to 33,5c for each linked unit for the six months ended December 31 2003.

THERE are lessons to be learnt from last week's news that property loan stock firm Arnold Property Fund (A-Prop) is planning legal action in a bid to recoup value lost since listing.

The R5 billion merger of Growthpoint Properties Limited and Primegro Properties Limited has been selected as one of the top 10 deals of the year by David Gleason’s DealMakers.

Industrial-focused property loan stock company Metboard Properties has had a revival in fortunes.

Holding good listed stock is still preferable to cash analyst.

Property loan stock company Growthpoint Properties, which is managed by the Investec Property Group, posted solid results for the 12 months to June 30 this year, attributing surges in revenue and net property income to a large acquisition drive.

WHILE some of the better performing listed property loan-stock companies believe that there is room for a positive rerating, commentators say that this has already taken place and if there is another it will be small.

Group sees massive scope for growth in listed sector, writes David Jackson.

Growthpoint's decision to invest in a portfolio of linked units signals the growing popularity of a hybrid property loan stock structure, but questions about the merit of this hybridity remain.