LISTED property loan stock company Pangbourne Properties announced yesterday it would acquire a 40,6% interest in fellow listed property stock Calulo Property Fund in a R140,3m deal.

SA’s listed property index produced a total return of 6,33% last month, bringing the year-to-date return to 30,17%, says the latest monthly listed property sector overview from Catalyst Securities.

JSE-listed property funds - managed portfolios of shopping centres, offices and industrial property - show no sign of peaking, as some analysts started warning over a year ago that they would. Their combined market capitalisation has doubled to R46-billion in five years, and should reach R50-billion this year.