Durban - Investec Property Group (IPG) yesterday announced the R2.5 billion merger of Growthpoint and Primegro, which would create the largest loan stock company on the JSE Securities Exchange.

Move follows management buy-out by Clidet.

Property unit trusts (PUTs), as a proxy for property performance, have generated a 14.9% return in the year to end-March, sharply outperforming bonds, says Debbie Prinsloo of Investment Solutions, the country's largest multi-manager.

SHOPS for Africa, a listed property loan stock company on the JSE Securities Exchange SA, said at the weekend it had acquired a major share in Sammy Marks' Square, a shopping centre located alongside the State Theatre in the Pretoria central business district.

The long-awaited listing of large numbers of property portfolios held by institutions has begun.

Wednesday, 16 April 2003 02:00

ApexHi acquires Capital Centre.

DURBAN ApexHi Properties has acquired Maritzburg-based retail development Capital Centre for R20m. The acquisition is in line with the property holding company's strategy of investing in high-yielding instruments.

One could be forgiven for feeling more than a little jittery if directors in a company in which one had investments appeared to be dumping shares left right and centre.

Friday, 04 April 2003 02:00

Spearhead increase portfolio by 20%

Fulfilling a promise made just over a year ago that Spearhead Property Holdings would significantly increase both the size and the quality of its property portfolio, Mike Flax, CEO of the company, has committed Spearhead to R110m capital expenditure to purchase three major landmark Cape buildings.

Wednesday, 19 March 2003 02:00

Directly held asset listings to rise.

The value gap between listed property and directly held property is narrowing, says the latest property report by consulting group Rode.

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