Listed property unit trust SA Corporate Real Estate Fund said it had entered into agreements to acquire a portfolio of properties worth more than R1bn

A due diligence investigation of the portfolio is under way

SA Corporate Real Estate Fund says its offer to acquire all the units in SA Retail Properties Ltd had been accepted by holders of 99.79% of SA Retail units. The offer closed on Friday (May 4)

SA Corporate Real Estate Fund has entered into agreements with Collins Property Group to acquire a portfolio of 52 properties in excess of R1 billion, potentially growing the market cap of the fund to over R9 billion.

Acquisition will further increase SA Corporate’s retail portfolio, which is due to be boosted through the imminent acquisition of all the SA Retail linked units in issue

Hardly a week goes by without an article being written about industrial land and property prices shooting the lights out, with terms such as “sky-high” and “top dollar” being bandied about. The situation has been described as a “crisis”

SA Corporate Real Estate Fund and SA Retail Properties Ltd which are set to merge into a R7 billion diversified fund, both outperformed the Investment Property Databank industry standard for 2006 with total returns for the year of 33.8% and 41.2%

Government-owned pension fund manager Public Investment Corporation (PIC) is expected to shake things up a tad in the listed property sector following its surprise takeover bid for Cape-based loan stock company CBS Property Portfolio

SA Corporate Real Estate Fund has announced that its offer to the linked unit holders of SA Retail Properties Limited will be supplemented with a cash alternative.

Listed property unit trust SA Corporate Real Estate Fund has come a long way in terms of market position from its previous incarnation as Martprop Property Fund.