The R5 billion merger of Growthpoint Properties Limited and Primegro Properties Limited has been selected as one of the top 10 deals of the year by David Gleason’s DealMakers.
Property loan stock company Growthpoint Properties, which is managed by the Investec Property Group, posted solid results for the 12 months to June 30 this year, attributing surges in revenue and net property income to a large acquisition drive.
WHILE some of the better performing listed property loan-stock companies believe that there is room for a positive rerating, commentators say that this has already taken place and if there is another it will be small.
Growthpoint's decision to invest in a portfolio of linked units signals the growing popularity of a hybrid property loan stock structure, but questions about the merit of this hybridity remain.
eProperty News is a leading online commercial property marketplace serving the Southern African Investment, Office, Retail and Industrial property and allied sectors.