Wednesday, 04 April 2007 02:00

PIC could ruffle some feathers

Government-owned pension fund manager Public Investment Corporation (PIC) is expected to shake things up a tad in the listed property sector following its surprise takeover bid for Cape-based loan stock company CBS Property Portfolio

Friday, 23 February 2007 02:00

It's Bain vs the landlords

Bain, the US private equity fund that is paying R25bn for listed retail giant Edcon, may have struck a snag with the landlords of the 1m m² of retail space that Edcon occupies in shopping centres.

Madison Property Fund Managers today announced its excellent maiden results as a JSE-listed company with distributable income of 39 cents per linked unit for an eight month financial period to 31 December 2006. Distributable earnings of R74,1 million exceeded the forecast of R63,6 million by a noteworthy 16,5%.  This equates to a 47,8% total return to linked unitholders since listing on the Financial Real Estate – “Real Estate Holdings and Development Sub – Sector” of the JSE Limited on 7 June 2006.

Monday, 15 January 2007 02:00

Madison tipped as Grayprop bidder

Listed property asset management company Madison has been tipped as the party that has approached Allan Gray about selling its controlling stake in the management company of listed property unit trust Allan Gray Property Trust (Grayprop).

Thursday, 11 January 2007 02:00

Volatility ahead

Catalyst continues to favour funds that exhibit high-quality and sustainable income streams; excellent disclosure and transparency; and management with a proven ability to perform

Thursday, 28 September 2006 02:00

Governance, shmovernance

The corporate governance of listed property funds is just not good enough, says Barnard Jacobs Mellet property analyst Amanda de Wet, in a report to clients. And it's the best-performing and biggest funds that seem to fare worst.

Thursday, 07 September 2006 02:00

Hyprop withdraws from V&A Waterfront bidding

Hyprop Investments is pulling out of bidding for the Victoria & Alfred (V&A) Waterfront.

Linked unit-holders of Madison Property Fund Managers Limited, the first property asset manager in South Africa to be listed on the JSE Limited, are set to benefit from the transaction which should result from Redefine Income Fund Limited’s offer to Spearhead Property Holdings Limited unit-holders to acquire 100% of the Spearhead linked units in issue.

Turbulent times drive property fund manager's unit price down 20%

Madison Property Fund Managers, one of South Africa’s largest property managers, announced today that its private placement and public offers were both substantially oversubscribed with applications received of approximately R2.3 billion.

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