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JSE-listed real estate investment trust Fairvest continues to move towards becoming a retail-focused fund by recycling out noncore assets, with disposals expected to continue. Fairvest sold four assets for R252.5-million at an average premium to book value of 0.2%, and at an average yield of 11.2%, during the six-month period ended March 31.
Interested buyers, all 50 of them so far, are sharpening their knives ahead of the sale of Rebosis Property Fund and its various properties, which includes Hemingways Mall, East London’s most prestigious retail property, as well as Baywest Mall in Gqeberha. Secret written offers will be submitted this week, but eventual decisions on the bids could drag on until Christmas.
A new court ruling brings much-needed clarity on the meaning and methodology for determining "fair value", write Lucinde Rhoodie, Kara Meiring and Claudia Grobler.
Fairvest merged with Arrowhead Properties this January, creating the largest SA-only-focused diversified listed property group.
MONEYWEB app instead? Arrowhead makes headway in its solar power rollout JSE-listed property fund welcomes the governmentâs planned easing of licensing regulations around independent or private renewable energy projects. 00:04 The Aviary in Lynnwood Glen, part of Arrowheadâs commercial property portfolio. Image: Supplied The solar power rollout plan by diversified South African real estate investment trust (Reit) Arrowhead Properties to install 10 megawatts (MW) of electricity through on-site solar power plants at its properties is well on track, says COO Riaz Kader. The grou...