Unitholders of Fountainhead Property Trust will soon have the final say on the offer by Redefine Properties to acquire its R11 billion property portfolio.

Redefine Properties has received Competition Tribunal approval for the acquisition of the Fountainhead Management Company and the proposed acquisition of the assets of Fountainhead; the latter some of which require 'defensive' investment

For the six months ended 29 February 2012 and on a comparable recurring income basis, a total distribution growth of 6.6% on the prior period occurred

BEE management consortium buys 50 million Dipula Income Fund B-units from Redefine Properties Limited

Phase 2 refurbishments to Jewel City, a high-security district in the eastern part of the Johannesburg CBD and located adjacent to the Maboneng Precinct, were completed this month

Redefine views the acquisition of the Fountainhead management company as the key to Redefine being able to acquire the R10 billion of assets of Fountainhead, including further down the line disposal opportunities

Alex Phakathi has been appointed as Acquisitions and Disposals Executive of Redefine Properties

Redefine Properties, with a market cap of R21,5bn, is not shooting out the lights yet — growth of 3% in income payouts for the year to end-August is well below the sector’s average of 6%-7%.

A precinct of six city blocks, Jewel City quietly gets on with the business of boosting economic activity in the Johannesburg CBD and Southern Africa as well as bringing tourists to spend welcome foreign currency in Johannesburg

While Redefine Properties has announced a slight increase in total distribution, cash flow numbers illustrated a dimmer picture.