Listed property group Prima Property Trust's unit-holders will meet next month to vote on the group's mooted disposal of its portfolio and the subsequent winding up of the company
Listed property loan stock company ApexHi Properties' acquisition of Prima Property Trust's portfolio will help consolidate the listed property sector
IN A deal worth nearly R1bn, listed property loan stock company ApexHi Properties is set to acquire the entire property portfolio of sister fund Prima Property Trust.
Listed Prima Property Trust, a property unit trust, has managed to increase its liquidity significantly for the year to April, with 42% of its weighted average of units in issue being traded during the period.
Prima Property Trust announced a final distribution of 6,50 cents per unit, resulting in a total distribution of 13 cents per unit for its financial year to 31 April 2005.
Prima Property Trust today announced its interim distribution of 6,5 cents per unit for the six-month period ended 31 October 2004.
Furthering its strategy of growth through acquisition, Prima Property Trust today announced its purchase of a portfolio of properties for R82 million from Ellerine Holdings.
Prima Property Trust has agreed to purchase a portfolio of 45 properties from Ellerine Bros for R198,1 million, at a yield of 13,7% in its largest single acquisition to date. This transaction is effective 1 October 2004.
It is believed that most analysts prefer internal management structures because objectives are more aligned with unitholders' interests
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