Emira Property Fund, which launched a bid for SA Corporate Real Estate last week, could potentially be buying some problem assets, some of which have high vacancies, analysts say.

Consolidation is starting to take hold in the listed property sector and the proposed tie-up will cause two mid-sized counters to merge into a R15.5bn group. Fund managers have been calling for small and mid-cap funds to consolidate as they want to invest in larger, more liquid companies which are able to attract more institutional investors.

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