07 Feb 2013
Rebosis Property Fund, the first black-managed and substantially black-held property fund to have listed on the Johannesburg Stock Exchange has announced that it successfully raised R650 million in a rights offer.
The offer was oversubscribed.
“We are very pleased with the successful rights offer and the strong support from our institutional investors,” says Sisa Ngebulana, Rebosis chief executive officer.
The proceeds will be used to reduce gearing and strengthen Rebosis’ balance sheet, he explains.
The subscription price for the rights offer linked units was R11.20 per linked unit and a total of 58 035 718 new Rebosis linked units will be issued, increasing the total issued linked unit capital of the Fund to 307 183 417 linked units.
Ngebulana says they have been on a strong acquisition drive in the latter part of last year and the rights issue enables them to move quickly on other pipeline opportunities as they have access to cash to conclude future transactions.
In November last year, Rebosis announced the acquisition of Sunny Park retail centre from Zenprop.
The centre comprises 24 318 square metres retail space including a Virgin Active Gym and 3 179 square metres office space and 608 parking bays.
It is located towards the east of the Pretoria CBD and brings the number of large, regionally dominant retail centres in the portfolio to four.
At the same time, Rebosis also announced the acquisition of an 18 729 square metre warehouse tenanted by Antalis.
Antalis has occupied the property since 1995 and the lease, which expires in 2019, is underpinned by its parent company which is listed on the Paris stock exchange.
In December 2012 Rebosis announced the conclusion of agreements to acquire a number of large, high quality and defensive commercial properties tenanted by national and provincial government as well as blue chip corporate tenants from the Nthwese Trust and Peolwane Properties (Proprietary) Limited.
Industrial Property for sale in Jet Park R 2 946 348
House for sale in Garsfontein R 1 850 000
Commercial Property for sale in Lynnwood R 60 900 000
House for sale in Soshanguve R 370 000
House for sale in Soshanguve East R 365 000
Apartment / Flat for sale in Bakerton R 770 000
House for sale in South Crest R 1 000 000
House for sale in Hayfields R 1 550 000
House for sale in Annlin R 580 000
House for sale in Tembisa R 230 000
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