Hyprop announced a favourable restructuring of its debt facilities, with the conversion of R648 million in conventional bank loans into debt capital market (“DCM”) funding.

Hyprop Investments, a shopping mall owner with clients including Body Shop and Timberland, wants to raise almost R1bn in bonds to reduce its debt-servicing costs.

Leading JSE shopping centre fund, Hyprop today announced its R2,3 billion acquisition of Somerset Mall from Sycom Property Fund ("Sycom"), in line with strategy to invest in sizeable quality shopping centres.

Leading JSE shopping centre fund, Hyprop, reported distributions up 6,8% to 409 cents a unit for the year to December 2012

Redefine offer for Fountainhead 6% higher than previous, and represents full price for the Fountainhead portfolio and contains a higher proportion of Hyprop units

Hyprop announced the sale of the Southern Sun Hyde Park Hotel to Southern Sun, the current operator of the hotel, for R130 million. The move is in line with Hyprop's strategy to dispose of non-core assets.

Listed property unit trust Sycom Property Fund said it "accepted" the JSE’s censure regarding three general issues for cash in 2010 and 2012, for which Sycom did not obtain unitholder approval, and said it did not believe it would be in the interests of unitholders to take the matter further.

Redefine has confirmed that its indicative offer to acquire the property assets of Fountainhead Property Trust remains on the table, unchanged, notwithstanding yesterday's counter offer for this portfolio.

Growpoint, the JSE's biggest property company with a market capitalisation of about R44bn, on Tuesday started a bidding war against Redefine, the JSE's second biggest weighing in at about R29bn, for Fountainhead Property Trust's R10.3bn portfolio.