Castleview boosts stake in SA Corporate Real Estate

Castleview Property Fund Limited (JSE: CVW) has announced the acquisition of a further direct holding in SA Corporate Real Estate Limited, a JSE-listed REIT, through a sale of derivatives for ZAR225,789,953 and the acquisition of 274,680,608 shares at an average price of ZAR2.76 per share, totaling ZAR756,904,178. According to the company, the latest transactions align with Castleview's strategy of investing in direct and indirect property investments. SA Corporate's financial metrics for the year ended December 31, 2024, include a distributable income per share of 27.08 cents and a dividend per share of 24.37 cents. SA Corporate's net asset value is reported as ZAR11.16 billion, with profits after tax at ZAR645.8 million. Castleview considers the combined transactions a category 2 transaction, not requiring shareholder approval.