Listed property unit trust Martprop Fund said on Tuesday it had acquired both an office and an industrial property in Gauteng for a total outlay of R65,5m.
Competition Tribunal has approved the acquisition by Old Mutual Properties of the property businesses of Marriott paving the way for the creation of South Africa's largest property asset management company called Old Mutual Property group - with assets totalling some 32 billion rand.
The listed property sector is continuing to perform strongly, with the total return for the year at 16,9%, or an annualised 81%, at mid-March.
Listed property loan stock company's takeover bid for competitor SA Retail Properties is an attractive offer for unit holders.
Listed property unit trust Martprop Property Fund announced interim distributions on Friday that were below the listed property sector average.
Construction on a new R400m regional mall in the Vaal Triangle is set to begin in October this year.
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