Redefine is making significant progress on both the acquisition and disposal front in implementing its portfolio repositioning strategy but this could be initially expensive

Listed property stock Redefine has announced that it will be purchasing fourteen office and industrial properties for R1.8 billion rand from Zenprop group, payable in cash.

In line with it’s strategy of restructuring and improving the quality of it’s core property portfolio, Redefine Properties Limited (“Redefine”) has concluded various agreements

Redefine has made its debut in the bond market with an issuance of R250 million 90 day commercial paper under its newly established R5 billion Domestic Medium Term Note Programme

Property loan stock company Dipula Income Fund plans to make acquisitions of R1.5bn-R2bn in the next few years as it grows it portfolio with the aim of attracting new capital.

Redefine Properties is investing more than R680m in development projects as it enhances its portfolio and disposes of stock that no longer fits its portfolio profile.

Moody's Investors Service has assigned long-term and short-term issuer ratings of Baa3 and Prime-3 to Redefine Properties, the second largest property fund on the JSE.

Redefine is well positioned to access alternative unsecured funding markets such as corporate bonds cost effectively, following the announcement of the company’s credit rating assessment by Moody’s

The Competition Tribunal has unconditionally approved the deal in which Dipula Property Fund will acquire Asakhe Realty Investment Fund.

Hyprop’s acquisition of Attfund Retail was approved by Hyprop shareholders at a general meeting held on 13 May 2011