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

WITH listed property generally trading at a premium to net asset value, hybrid property loan stock company Redefine Income Fund says that the group's current strategy is to dispose of listed property stock and beef up the fund's fixed property portfolio.

Pretoria - ApexHi Properties, a property loan stock company, would relocate soon to Corpcapital's old business in Rosebank, said Brian Azizollahoff, the chief executive of Redefine.

Redefine Income Fund, managed by Madison Property Fund Managers, announced an increased interest distribution of 8 cents per linked unit for the second quarter ended 29 February 2004.

LISTED property loan stock giant Redefine said yesterday it welcomed the probe by the insider trading directorate of the Financial Services Board (FSB), saying that as far as it was concerned, there was "nothing unusual" about its trades during June and July this year.

But an improving US growth rate could easily see an outflow of capital from the South African market

Property loan stock heavyweight Redefine Income Fund announced on Tuesday that it would be paying an interest distribution of 6,5c to its unit-holders for the final quarter to August, slightly more than what they forecast earlier.

Property company Redefine Income Fund has reported headline earnings per linked unit of 29.75 cents for the year ended August compared with 37.07 cents for the previous year.

Listed property company Rand Leases Properties reported a loss of R2,6m for the year to June, and attributed this to its repositioning as a development company and the disposal of its entire investment portfolio with effect from November last year.

Pundits say commercial property sector is getting stronger, more sustainable and less risky