Pivotal Property Fund announces R1.5 billion deal in lead-up to JSE listing

Growpoint, the JSE's biggest property company with a market capitalisation of about R44bn, on Tuesday started a bidding war against Redefine, the JSE's second biggest weighing in at about R29bn, for Fountainhead Property Trust's R10.3bn portfolio.

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

The Competition Tribunal has unconditionally approved the deal in which Dipula Property Fund will acquire Asakhe Realty Investment Fund.

SA's listed property funds are in a race for size that could leave the 26-fund, R94bn market cap sector with five or six giants and a few dwarves

Listed property asset management company Madison has been tipped as the party that has approached Allan Gray about selling its controlling stake in the management company of listed property unit trust Allan Gray Property Trust (Grayprop).

Top performer assigns 30% of shareholding to empowerment groups.

Big funds red in tooth and claw have appetite and muscle to swallow their peers

REMAIN COMMITTED: Standard Bank Properties’ Mariette Warner.

Stanlib has closed its multi manager property fund to new investments, saying its assets have reached R1,2bn in just more than two years, which is close to the 'optimal size of a local portfolio'