Acquisitions, low rates boost performance

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

Paraprop said yesterday it had acquired the Pick 'n Pay centre in Claremont, Cape Town, from Sanlam

Provest Management listed its first unit trust, the Provest Property Equity Fund, on Tuesday 1 June.

Property sale increases retail exposure

If funds in the listed property unit trust and property loan stock sectorwant to be rated as a preferred stock by asset managers, they need to deliverdistributable earnings growth in the region of 5%.

An anticipated R8bn to R10bn worth of new institutional propertylisting activity is generally regarded as a positive development for themarket and investors, but the manner in which market capitalisation growthis occurring outside new listings is a subject for debate among marketanalysts.

PROPERTY loan stock heavyweight Hyprop Investments said on Friday it would raise capital of up to R376,04m by issuing 9million combined units for cash and implementing a rights offer.

Unit distribution up 2.3% on previous year

PROPERTY loan stock company Atlas Properties announced yesterday that it had increased its distribution 6,3% for the six months ended March 31 this year compared with the corresponding period in the previous year.