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Leasing / Ownership /Management

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

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

BRIEF-Dipula disposes some of its non-core properties

Dipula Income Fund on Tuesday said it had concluded agreements to sell 13 properties for a total purchase consideration of R51.8 million, which will be used to reduce debt. ... Full story

Government reclaims Vlakplaas

The state has reclaimed the notorious Vlakplaas from a right-wing religious fundamentalist, who claimed he was a "squatter" and could not be evicted, according to a report. ... Full story

Tradehold acquires Collins group outside South Africa

Property and retail investment group Tradehold (TDH) has entered into a memorandum of understanding to acquire the bulk of the commercial property holdings of the Collins group outside of South Africa. ... Full story

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