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Leasing / Ownership /Management

Accelerate buys KPMG buildings for R850m

Accelerate Property Fund has bought KPMG's property service holding company with six office property assets across various centres in South Africa for R850 million. ... Full story

Redefine Properties on a R4.1 billion acquisition trail

Redefine Properties today announced the acquisition of the Leaf Capital portfolio of properties for R4.1 billion equating to an initial income yield of 8%, substantially enhancing its office portfolio in the Western Cape. ... Full story

Old Mutual, Pareto in R10bn ownership deal for major Retail assets

Old Mutual Life Assurance Company and Pareto have entered into an asset swap transaction involving Pretoria’s Menlyn Shopping Centre and Cape Town's Cavendish Square. ... Full story

Tongaat Hulett concludes BEE deal for sale of prime land at Cornubia

Sugar producer Tongaat Hulett says it has concluded a deal with a local black-owned company, through the sale of prime land at its Cornubia Business Hub in KwaZulu-Natal. ... Full story

Investec Property Fund bulks up with R871m purchase

Investec Property Fund said last week it would be buying a portfolio of 5 properties which includes two office building, two industrial properties and a retail centre, for R871 million from Investec Property ... Full story

Texton to acquire properties for R228.8m

Texton Property Fund (TEX)‚ formerly Vunani Property Investment Fund‚ announced on Friday its intention to acquire various properties for R228.87m. ... Full story

SA Property Owners commend DPW for probing irregular expenditure

The South African Property Owners Association (SAPOA) has welcomed the announcement by Public Works Minister, Thulas Nxesi, that there will be a thorough investigation into irregular expenditure by the Department of Public Works (DPW). ... Full story

Public works misspent R35bn in irregular expenditure related to property procurement

The public works department has lost almost R35 billion to wrongful and wasteful construction or leasing of state buildings in the past five years. ... Full story

Growthpoint clinches large industrial land deal in Samrand

Growthpoint Properties says it has concluded agreements to acquire a fully-serviced 43 hectare site in Samrand, equal in size to 86 rugby fields, from the Cavaleros Group, which has an ultimate development potential of R2bn ... Full story

Pivotal Property Fund adds R1.5bn property assets to its basket

Unlisted Pivotal Property Fund on Wednesday said it had acquired R1.5 billion property assets from Standard Bank Properties which includes Sandton’s landmark Alice Lane development — and is considering listing on the JSE. ... Full story

Dipula absorbs six shopping centres for R425m

Dipula Income Fund has acquired 6 shopping centres from Redefine Properties for a consideration of R425-million, 25% of which will be settled in cash and the balance in Dipula A and B linked units. ... Full story

Vunani Property buys Edcon Place for R150m

Vunani Property Investment Fund (VPF) announced on Thursday that it had acquired the office block‚ Edcon Place‚ located in the Johannesburg CBD for R150.47m. ... Full story

Public Works loses millions in rentals

The Eastern Cape Roads and Public Works Department has lost millions in the past two decades over the non-payment of rentals at 25 government-owned houses across the province. ... Full story

Redefine Properties swallows Macsteel’s portfolio for R2.7bn

A month after hitching R2.1bn takeover of Annuity Properties and receiving an acquisition approval of Fountainhead portfolio valued at R12bn, Redefine Properties today said it concluded yet another acquisition of Macsteel’s property portfolio for R2.7bn. ... Full story

Arrowhead Properties confirms exposure to African Bank

Arrowhead Properties Limited on Monday announced that it has insignificant exposure to the embattled African Bank Investments Limited (ABIL), which has been placed under curatorship by SA Reserve Bank. ... Full story

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