"Since our successful listing last year, a number of acquisition opportunities have progressed through the pipeline. We are now in the process of acquiring several of these properties that will enhance the overall quality and value of our portfolio.

"Overall, 21% of the proposed portfolio will be leased by non-governmental blue chip tenants, which include some strategic industrial properties. This is important, as it diversifies our geographical spread and office focus.

"The purpose of the R1 billion rights offer is to raise capital to partially fund the acquisitions and to create a platform from which Delta can fund future acquisitions." commented Sandile Nomvete, CEO of Delta Property Fund.

The rights offer opens on Monday, 8 April 2013 and will close on 26 April 2013.