The shareholders of JSE-listed real estate investment trusts (Reits), Gemgrow Properties and Arrowhead Properties have approved the proposed merger of the companies, paving the way for the creation of a R16bn property fund. 

The reverse takeover of Gemgrow by Arrowhead, which previously held 53.3% of Gemgrow’s shares, will create a larger, and more well-balanced property portfolio of 212 properties, diversified across the three asset classes with a gross lettable area of 1,335,197m² spread across all nine provinces in SA. Arrowhead will also continue to invest in SA only.

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