Arrowhead Properties (Arrowhead) and Propertuity have concluded an agreement whereby Arrowhead will acquire eight buildings in the Maboneng Precinct for R180 million.

Arrowhead Properties' plan to grow its portfolio to R10bn by 2016 is given a boost as a private placement to fund acquisitions is oversubscribed by R90m.

Arrowhead today announced that it has concluded an agreement to acquire 84 966 285 Vividend Income Fund linked units representing 31.7% of the total Vividend linked units from Coronation Fund Managers.

Arrowhead Properties, the only JSE listed property loan stock company to pay quarterly distributions, today exceeded expectations by achieving a 12,36% growth in distributions for the year ended 30 September 2013. 

Analysts believe that over the next six to 18 months there will be consolidation in the property sector following the rash of new listings over the past three years.

Arrowhead Properties today announced that it has concluded an agreement with Jika Properties for the acquisition of a residential property portfolio at an aggregate purchase consideration of R406 million payable in cash.

JSE-listed Arrowhead Properties, which has indicated that it is eyeing opportunities in the residential sector for the first time, said on Wednesday it had posted a "very positive" performance in the quarter ended June.

Arrowhead Properties, the only JSE listed property company to pay quarterly distributions, has over the past few months made significant progress in its acquisition strategy aimed at growing the portfolio by R660 million, 30% in its current financial year.

Arrowhead Properties is a property loan stock company holding a diverse portfolio of around 100 properties throughout South Africa and has released its first set of interim results for the 6 months ending March 2012