In a staunchly competitive commercial leasing market, helping businesses manage cashflow is a key factor in attracting and retaining tenants for a well-managed property portfolio.

Emira Property Fund successfully settled and immediately re-issued R400 million of three-month unsecured commercial paper (CP), for the second time. The paper rolled for a further three months and now needs to be settled in May 2013. 

Emira Property Fund reported distribution growth of 3,5% for the six-month period ended 31 December 2012, representing a significant improvement in growth prospects from its final distribution for the year to June 2012.  

Emira Property Fund has raised a further R450m in debt to help fund the extensions of its Wonderpark Shopping Centre in Pretoria and to pay back the balance of the notes that were issued by Freestone Finance Company (Pty) Ltd in March 2008 and were due for repayment early next year. 

After deciding to seek tenders for the property management contract of its R8.8bn portfolio, the Emira Property Fund board has outsourced the property management of its commercial and industrial portfolio to Eris Property Group and virtually its entire retail portfolio to Broll Property Group.

JSE-listed Emira Property Fund is seeing a pick-up in prospects as a result of certain letting and sales activity across its portfolio.

Emira Property Fund has once again restructured its existing debt facilities with the highly successful auction of R400m of three month commercial paper in the debt capital markets

Emira property Fund has announced a final distribution of 110,68 cents per Participatory Interest (PI) for the year end 30th June 2012. This is a reduction of 2,5% on the distribution for the previous comparable period

Emira Property Fund has sold some of it’s non core properties and has used the proceeds to draw down on current debt facilities and to buy back its own Participatory Interest units (PI’s) in the open market in a move which will be earnings enhancing for Emira PI unit holders

Emira Property Fund has distributed 53.81c for each Emira participatory interest for the six months ended December 2011, a 2.5% decline over the same period in 2010.