Cape-based property investor Paramount, shackled by the demanding servicing costs on its debenture structure, has gone on a spending spree in Cape Town that has topped R330 million in less than a year.

Paramount, the listed property fund, increased its total distribution for the year to end October to 51c from 49c in the previous year with a final distribution of 13.5c.

Listed property loan stock company Paramount Property Fund (Paraprop) has experienced a major turnaround in fortune , reflected by its winning the office property category of the Financial Mail/Investment Property Databank (IPD) Listed Property Investment Awards.

Listed property fund, Paramount (Paraprop), has acquired the retail component of one of Cape Town’s largest and most prominent landmarks, the Golden Acre in Cape Town’s Adderley Street, for R130-million.

Listed property loan stock company Paramount Property Fund (Paraprop) says its property portfolio will soon exceed R1bn in value.

Redefine Income Fund today announced that it has purchased 6,031,600 Paramount Property Fund ("Paramount") linked units for R21,110,600, or R3.50 per unit.

Property loan stock company Paramount Property Fund (Paraprop) said it was acquiring a retail property, as well as two office blocks, for a total consideration of R42,2m.

PARAMOUNT Property Fund (Paraprop) declared a distribution of 12.5c for the first quarter of this year, which is 4% higher than the same period last year.

LISTED property fund Paramount Property Fund (Paraprop) believes the outlook for the property market for 2004 is reasonably good and that the economy is well positioned for growth in line with anticipated expansion in the world economy.

Claremont landmark goes to property fund for R52.5m