Growthpoint Properties Limited, today reported a growth in distribution of 15,1% for its interim period for the six months ended on 31 December 2006.

Growthpoint Properties Limited, South Africa’s largest JSE-listed property holding and investment company with property assets in excess of R15 billion, today announced that it has successfully secured full ownership and complete control of Paramount Property Fund Limited.

Getting hold of industry spokespersons for comment is currently proving quite difficult. Those who aren't tied up in boardrooms plotting their next acquisition or takeover are on road shows overseas punting commercial property opportunities to fund managers.

Growthpoint Properties, the largest listed property company on the JSE, said on Friday its takeover bid for the smaller Cape Town-based Paramount Property Fund had been successful.

Growthpoint Properties has announces that it has secured 97.24% of Paramount linked units in issue through its friendly bid to purchase the smaller company

The market can expect to see even more consolidation in the South African listed property sector this year, with bigger players acquiring smaller companies and friendly mergers between others.

Catalyst continues to favour funds that exhibit high-quality and sustainable income streams; excellent disclosure and transparency; and management with a proven ability to perform

Growthpoint Properties has announced that is has sold 2.3% of its linked units in issue to Phatsima Properties in a black economic empowerment deal

Growthpoint Properties Limited, South Africa’s largest JSE-listed property holding and investment company with property assets in excess of R15 billion, has announced that 2.3% of its linked units in issue will be acquired by black controlled and managed property investment holding company Phatsima Properties.

Raising the bar for commercial mortgage backed securitization (CMBS) in the listed property sector, Growthpoint Properties Limited is to issue R1,566 billion worth of notes on the Bond Exchange of South Africa, tomorrow (Friday, 10 November 2006).