There is a view that Hyprop, under CEO Pieter Prinsloo, may be able to unlock value for Sycom shareholders.

Nedbank Corporate Property Finance has approved finance to the value of R3.8 billion, creating the financial foundation for Hyprop Investments Limited to acquire 100% of Attfund Retail Limited

The reappointed CEO of JSE-listed Hyprop, Pieter Prinsloo, has been asked to steer a mamoth R20bn retail-focused property fund.

Hyprop’s acquisition of Attfund Retail was approved by Hyprop shareholders at a general meeting held on 13 May 2011

Retail-focused property fund Hyprop Investments (HYP) on Monday announced the re-appointment of Pieter Prinsloo as its new CE.

Retail-focused Hyprop Investments has announced the appointment of Mike Rodel as CEO with effect from August, to oversee the completion of the company’s R663m expansion programme launched last year.

Hyprop Investments has announced that its total distribution for the year ended December 31 2008 has increased by 14.1% to 308 cents per combined unit.

Standard  Bank has affirmed its confidence in listed property group Hyprop Investments by granting the firm R500m debt that Hyprop plans to invest in completing various upgrades on Canal Walk in Cape Town and Hyde Park Shopping and The Glen Shopping Centre in Johannesburg throughout the year.

A STRONG performance from its shopping centres and its investment in listed Sycom Property Fund helped to boost Hyprop Investment’s distributions 15,4% to 150c for the six months to June.

Reflecting the defensive quality of its shopping centre assets in a depressed economy, JSE retail property fund Hyprop Investments posted a 15,4% increase in distributions to 150 cents for the six months to June 2008