IN A deal worth nearly R1bn, listed property loan stock company ApexHi Properties is set to acquire the entire property portfolio of sister fund Prima Property Trust.

Prima Property Trust announced a final distribution of 6,50 cents per unit, resulting in a total distribution of 13 cents per unit for its financial year to 31 April 2005.

Prima Property Trust today announced its interim distribution of 6,5 cents per unit for the six-month period ended 31 October 2004.

The remaining 40% of Madison Property Fund Managers (Pty) Limited has been acquired by property doyens Wolf Cesman and Marc Wainer, together with Standard Bank Properties.

Prima, Corpcapital's latest listed property fund, establishes what was once a small-cap banking group as SA's biggest and best-performing player in listed property.