Further Corporate activity is on the cards for the listed property sector as funds become increasingly aggressive in their drive to bulk up assets under management. The sector has seen a number of mergers and takeovers over the past year, with the Madison managed stable of funds being one of the key players.

Listed property unit trust Marriott Property Fund (Martprop), which delivered below-market distribution increases of 3% to its unit-holders for the year to July, is forecasting similar growth for next year.

Growthpoint Properties says it has disposed of a significant portion of its listed property investment portfolio for a total consideration of R671 million

Marriot says more than half of SA Retail unitholders will reject Hyprop’s offer.

Redefine Income Fund, managed by Madison Property Fund Managers, announced an increased interest distribution of 9 cents per linked unit for the second quarter ended 28 February 2005.

SA Retail Properties has been on a unitholder roadshow to promote a planned transaction with Martprop.

Listed property loan stock company Hyprop Investments is confident that SA Retail Properties unitholders will support its hostile takeover bid of the company.

Durban-based Marriott and its four listed funds - SA Retail, Martprop, Ambit and Oryx - are the most vulnerable in the sector to the predations of their peers

Although some listed property companies have recently considered aggressively growing their portfolios through hostile takeover bids, such opportunities are limited in the medium term, property commentators say.

Listed property loan stock company's takeover bid for competitor SA Retail Properties is an attractive offer for unit holders.