SAC
SAC
SAC - SA Corporate - Press Release - SA Corporate contracts to acquire a
portfolio of 52 properties worth over R1 Billion
SA Corporate Real Estate Fund
(formerly Martprop Property Fund)
(Incorporated in the Republic of South Africa)
Share code: SAC & ISIN code: ZAE000083614
A Collective Investment Scheme in property registered in
terms of the Collective Investment Schemes Control Act,
No. 45 of 2002 and managed by
SA Corporate Real Estate Fund Managers Limited
(formerly Marriott Property Fund Managers Limited)
(Registration number 1994/009895/06)
("SA Corporate" or "the Fund")
SA CORPORATE REAL ESTATE FUND CONTRACTS TO ACQUIRE A PORTFOLIO OF 52
PROPERTIES WORTH OVER R1 BILLION
SA Corporate Real Estate Fund said today it had entered into agreements with
Collins Property Group to acquire a portfolio of 52 properties in excess of R1
billion, potentially growing the market cap of the fund to over R9 billion.
A due diligence investigation of the portfolio is under way, said Peter
Sparks, executive director-designate of SA Corporate and managing director of
SA Corporate`s recent acquisition, SA Retail Properties Ltd.
"The predominantly industrial portfolio is nationally spread," he said. "The
acquisition is subject to completion of the due diligence investigation, and
approvals by SA Corporate trustees, SA Corporate Fund Managers, and regulatory
and statutory bodies. It is also subject to procurement of the necessary
funding."
The rationale for the acquisition and valuation, financial and property
portfolio information will be provided in a further announcement, said Sparks.
SA Corporate unitholders were advised to exercise caution when dealing until
the further announcement has been made.
8 May 2007
ends
Date: 08/05/2007 07:01:01 Produced by the JSE SENS Department.
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