RESIDENTIAL PROPERTY
Indluplace grows portfolio with deal
The group concludes an agreement worth R475m with Diluculo Investments to acquire Diluculo Properties
Residential property owner Indluplace Properties has boosted its portfolio value to R2.9bn in a landmark deal. The group has concluded an agreement worth R475m with Diluculo Investments to acquire Diluculo Properties, which owns a property portfolio of 1,319 residential units. The deal increases the Indluplace portfolio value from around R2.4bn to R2.9bn. Indluplace was the first residential-only real estate investment trust to list on the JSE. CEO Carel de Wit said his company was excited about a healthy pipeline of potential deals in and near Gauteng. "The portfolio fits well with the diverse nature of our current portfolio, being diverse in location, building type and unit type. "It will bring the new total of our residential units to 6,830, emphasising the potential to grow the fund aggressively over time," he said. The portfolio comprised eight properties, mainly spread across Gauteng with one property located in Bloemfontein.
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