Thursday, 22 May 2014 18:30

Merged property funds would have muscle

Proposed 3-way merger between Rebosis,Delta and Ascension will create the first sizable black-managed property portfolio to rank among the R280bn listed property sector's top 10 companies in terms of size.

Sandile Nomvete's Delta Property Fund brings the first outright African real estate offering to the JSE market next month.

Delta's full year provisional results outperform market guidance and reveal a year of exceptional growth

Rebosis Property Fund continues the property sector's better than expected earnings streak.

Rebosis Property Fund reports a 9.0% rise in its distribution per linked unit to 48.5c for the six months ended February 2014 from 44.5c in the year-earlier period. 

2014 has confirmed that the listed property sector is moving from a cycle of new listings, into one of consolidation.

The R250bn listed property sector, one of the JSE's most active in terms of merger, acquisition and listing activity in recent years, saw deal flow surge a whopping 60% last year.

Thursday, 13 February 2014 13:52

Rebosis‚ Delta put Ascension bids on hold

Black-controlled Rebosis Property Fund and Delta Property Fund have put their respective take-over bids for Ascension Properties on hold to avert a protracted bidding war for Ascension's lucrative R3.2bn portfolio of government-tenanted offices.

Surprise claims that Ascension has signed agreements to sell its management company simultaneously to Rebosis and Delta‚ unbeknown to the other party stuns property analysts.

Delta Property Fund says it is entitled to a R10m break fee following Monday's announcement that Rebosis would acquire Ascension's management company for R150m.

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