SA Retail meeting approves R1 billion acquisition

Posted On Thursday, 05 April 2007 02:00 Published by
Rate this item
(0 votes)

The merger of SA Corporate Real Estate Fund and SA Retail Properties Ltd to create a R7 billion diversified fund moved a step closer today.

Property-Housing-Residential

 

 

 

 

 

 

 

 

Peter Sparks, managing director of SA Retail, reported that at a general

meeting of SA Retail unitholders in Durban today, 98% of unitholders approved the acquisition of the R1 billion Sharemax portfolio of 10 retail properties.

The next step in the process is at the meeting on 12 April when SA Corporate unitholders meet. SA Corporate said last week it had support of unitholders representing 55% of its units to approve the SA Retail acquisition.

SA Corporate has also announced that its offer has the backing of 97% of
SA Retail unitholders.

Last modified on Thursday, 24 April 2014 20:27

Most Popular

Equites Property Fund’ prime logistics portfolio delivers exceptional returns

May 04, 2022
Andrea Taverna-Turisan
Equites Property Fund Limited today announced growth in its distribution per share of…

When is eviction legal? All you need to know about dealing with problem tenants

May 04, 2022
Evictions
Buying an investment property is great, especially when you’ve chosen a good location.…

Steilloop Shopping Centre makeover exceeds customer needs

Apr 22, 2022
Rural Limpopo's Steilloop Shopping Centre was bought by developer, GMI Property Group…

Deadline looms for energy performance compliance for commercial buildings

Apr 25, 2022
Energy certiticate
By 7 December 2022, commercial properties in specified sectors must have obtained their…

First quarter Rode’s Report raises doubts over the Sectional Titles Schemes Management Act

Apr 25, 2022
Default Image
The latest issue of the Rode’s Report has brought into question the practicality of the…

Please publish modules in offcanvas position.