In a staunchly competitive commercial leasing market, helping businesses manage cashflow is a key factor in attracting and retaining tenants for a well-managed property portfolio.

Emira Property Fund successfully settled and immediately re-issued R400 million of three-month unsecured commercial paper (CP), for the second time. The paper rolled for a further three months and now needs to be settled in May 2013. 

South Africa’s listed property sector gained 1.4% during the week ended 15 February 2013. Since the start of the year, both the listed property sector and the FTSE/JSE All Share Index have returned 3.7%, while the bond market has returned just 0.6%.

Emira Property Fund reported distribution growth of 3,5% for the six-month period ended 31 December 2012, representing a significant improvement in growth prospects from its final distribution for the year to June 2012.  

Emira Property Fund has raised a further R450m in debt to help fund the extensions of its Wonderpark Shopping Centre in Pretoria and to pay back the balance of the notes that were issued by Freestone Finance Company (Pty) Ltd in March 2008 and were due for repayment early next year. 

After deciding to seek tenders for the property management contract of its R8.8bn portfolio, the Emira Property Fund board has outsourced the property management of its commercial and industrial portfolio to Eris Property Group and virtually its entire retail portfolio to Broll Property Group.

JSE-listed Emira Property Fund is seeing a pick-up in prospects as a result of certain letting and sales activity across its portfolio.

Emira Property Fund has once again restructured its existing debt facilities with the highly successful auction of R400m of three month commercial paper in the debt capital markets

Wednesday, 22 August 2012 15:13

Emira's drop in distribution as per forecast

Emira property Fund has announced a final distribution of 110,68 cents per Participatory Interest (PI) for the year end 30th June 2012. This is a reduction of 2,5% on the distribution for the previous comparable period

Emira Property Fund has sold some of it’s non core properties and has used the proceeds to draw down on current debt facilities and to buy back its own Participatory Interest units (PI’s) in the open market in a move which will be earnings enhancing for Emira PI unit holders

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