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Tower Property Fund expands portfolio with first offshore acquisition

Tower Property Fund reports a 42% increase in distributable earnings for the year to May 2015 as its portfolio grew strongly and the fund makes its first offshore acquisition. ... Full story

Emira grows distributions on retail property

Emira Property Fund grows distributions 9% in the year to June, thanks to effective rationalising of its portfolio resulting in vacancies falling to 4%. ... Full story

Fortress to retain offices in improved offer for Capital

Fortress Income Fund is no longer planning to spin off Capital Property Fund’s office portfolio into a separate listing. ... Full story

‘Consistent’ Investec property unit earns rating upgrade

Global Credit Ratings upgrades Investec Property Fund’s long and short-term ratings because of the company’s consistent growth since listing about four and a half years ago. ... Full story

City Lodge FY net profit up 15% to R318.26m

City Lodge Hotels reports a 15% rise in net profit to R318.26m in the year to June as occupancies rise. ... Full story

Investec seals property deal

Investec Property Fund’s recent acquisition of a 26-property portfolio from Zenprop nearly doubles its asset base. ... Full story

Investec snaps up Zenprop portfolio for R7.1bn

Investec Property Fund has bought 26 properties from unlisted developer, Zenprop for R7.1 billion, in which it says the acquisition will double the size of the Fund’s existing portfolio to R16.4bn, the company said on Tuesday. ... Full story

Emira Property appoints new CEO

Emira Property Fund says Geoff Jennett, its chief financial officer and an executive director of Emira, has been appointed chief executive officer with effect from September 1. ... Full story

Basil Read expects to return to profitability

Basil Read says it expects its interim results for the six months ended June 2015 to indicate a return to profitability. ... Full story

Slow economy grips Hulamin, Group 5

Trading update from Group Five and interim results from aluminium fabricator Hulamin provides more evidence of the troubled state of the economy, says report. ... Full story

Redefine seals R14bn deal to buy Fountainhead's assets

Redefine Properties, SA's second-largest real estate investment trust, has secured its takeover of Fountainhead Property Trust's property portfolio. ... Full story

Cashbuild posts second surprise revenue rise

Cashbuild reports a 13% rise in fourth quarter revenue, signalling a continuing improvement in the building materials market. ... Full story

Fortress announces intent to acquire Capital Property Fund

Fortress Income Fund has been on a mission to accrue overseas assets, with the company announcing last week its firm intention to acquire all the listed shares of Capital Property Fund. ... Full story

British Capital portfolio adds to growing Atlantic Leaf asset base

Mauritian-based property company, which is listed on the JSE, Atlantic Leaf Properties was working at full steam to achieve critical mass, the company said last week. ... Full story

Octodec raises R390 million to fund growth

Octodec Investments on Tuesday announced that it had successfully raised R390 million through an oversubscribed accelerated book-build to fund property developments in progress. ... Full story

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