Rebosis Property Fund, the JSE’s first listed black-managed REIT,  today announced that it has obtained overwhelming shareholder support to acquire two large, regionally dominant retail centres as well as the services companies from property developer Billion Group (Pty) Limited.

Shareholders are advised that Rebosis has concluded an agreement for the disposal of the property letting enterprises in respect of the 3 properties known as 28 Harrison Street, 124 Main Street and 64 Eloff Street (the “properties”) to Southern Palace Group of Companies Proprietary Limited (“Southern Palace”) for an aggregate consideration of R847 498 292 (exclusive of VAT at zero percent) (the “disposal”).

Rebosis Property Fund is positioning itself for a rerating, which will attract larger investors and enable the company to join global indices.

Rebosis Property Fund changes the terms of its takeover deal with developer Billion Group following pressure from investors who said the retail-focused group was overpaying for some assets.

Furry of new listings, mergers and acquisitions in the JSE's R450bn listed property sector continues unabated.

Vukile Property Fund CEO Laurence Rapp says his fund is on track to have more than 90% of its portfolio in top quality retail assets, and to receive a rerating.

Rebosis Property Fund, the JSE’s first listed black-managed REIT, today announced a watershed R6 billion transaction that will substantially increase the Group’s exposure to high-quality retail assets and significantly bolster its scale and liquidity.

Arrowhead, the South African JSE listed REIT, has declared a dividend of 20,76 cents per share for the three months ended 31 March 2016.

Rebosis Property Fund, the JSE’s first listed black-managed REIT, today released robust interim financial results for the six months ended 29 February 2016.

Rebosis Property Fund, the JSE’s first listed black-managed REIT, today released robust interim financial results for the six months ended 29 February 2016.