Acucap Properties on Wednesday announced the transfer of a 50% undivided share in the Bayside Shopping Mall from Old Mutual Life Assurance Company (SA) to Acucap.

Retail-focused listed property loan stock company Acucap Properties delivered solid distribution growth of 10,4% for the year to March, compared with the previous year, saying this was a “good result for this stage in the property cycle”.

Acucap Properties has entered into an agreement to acquire a further undivided half share in the Bayside Mall in Cape Town from Old Mutual Life Assurance for R280m.

Listed property has shone amongst South Africa’s top 100 companies, based on share-price performance

Last Tuesday Growthpoint’s price leapt 9,9% to R15,50 on a record turnover of 30m shares. This when the listed property sector lies moribund on the margins of the world’s unravelling financial markets.

Property holding company Acucap today reported that its distribution per linked unit for the six months ended September 30 2008 increased by 11.4% to 121.30 cents.

Property holding company Acucap Properties has announced the appointment of its new financial director, Baden Marlow, effective immediately.

Sycom Property Fund reported distributable earnings of 70.63 cents per unit for the six months ended September.

Although investors climbed back into listed property in a big way last month - the index gained around 14% in July - industry players aren't expecting the sector to continue to deliver the same super returns seen over the past three years

Acucap Properties has attributed its strong increase in distributions to good rental growth on renewal of leases.