News
Posted on 2022-07-15
The JSE All Property Index closed at 7 535 last night.
Emira Property Fund
has proposed a takeover of Transcend Residential Property Fund by way
of a general offer to acquire all Transcend shares that it does not
already own for R5.38 per share. Having steadily increased its equity in
Transcend since its initial investment in 2018, Emira has used an R500m
facility from RMB and available cash to post the necessary cash
guarantees with the Takeover Regulation Panel. Should Competition
Commission approval be obtained, and the general offer runs its course,
it will effectively hold a minimum 57.4% stake in Transcend. Transcend’s
share price jumped by 20% on Wednesday evening following the SENS
announcement.
Nedbank has availed its solar energy funding
to all South Africans and not just its home loan clients. In a
partnership with Hohm Energy, its new asset-backed finance solution,
provided through MFC, is available to anyone wanting to install a solar
energy solution on their property, irrespective of who their mortgage
bond is with or even if their property isn’t bonded. The offering does
not require applicants to undergo a property valuation and it still
offers a preferential interest rate.
Redefine Properties and IWG have partnered on their 10th joint
flexible working center at Centurion Mall which boasts over 90 stores
with anchors including PnP Hyper, Checkers, Mr. Price, and Builders
Warehouse. According to JLL, co-working space in retail properties is
predicted to grow at an annualised rate of 25% over the next few years
with flexible office space in retail locations reaching +300 000m2 by 2023.
The Property Practitioners Regulatory Authority’s (PPRA)
board has taken the decision to formally charge its suspended CEO with
maladministration, fraud, and the misappropriation of pension funds
following the preliminary findings of a forensic investigation. She was
placed on precautionary suspension in March 2022 after allegations were
made to the Public Service Commission.
Source: Property Wheel
