Vukile Property Fund declares 'REIT qualifying' special distribution

Fairvest Property Holdings acquires R233.9 million retail property portfolio from Vukile Property Fund's subsidiary, MICC Properties.

Vukile Property Fund transfer of properties announcement

Thursday, 05 September 2013 14:48

Vukile Property Fund taking cautious approach

Vukile is 'poised nicely', although the fund is maintaining a cautious approach as the listed property sector finds its feet, says CEO Laurence Rapp.

Hammarsdale Junction shopping centre foot traffic impresses.

Vukile Property Fund fulfills Empowerment Transaction conditions and appoints executive director

Vukile overcame a lacklustre operating environment to increase its full year distribution by 5.4% to 131.59 cents per linked unit while at the same time enlarging the size of the portfolio by 26% to R7.7 billion in the 2013 financial year.

While an analyst believes this may not necessarily be the result of recent listed property price declines‚ general price weakness in the sector has made many potential property deals less attractive than before.
 

Private placement 'fatigue' has been partly blamed for the sharp sell-off in property stocks over the past two weeks.

Going forward‚ we will be stripping out non-recurring income‚ less non-recurring expenditure‚ which will be distributed in a special distribution each year.

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