Christo Wiese is exiting Texton Property Fund, a real estate investment trust that has underperformed the market amid numerous management changes and has lost the interest of various fund managers. The retail tycoon has been reshaping his investments after he sold down his stake in embattled Steinhoff International. Texton has been battling the negative sentiment that UK commercial property has faced since the Brexit referendum. "The price offered for our stake in Texton was attractive. It was an unnecessary portfolio investment, so we have chosen to sell at a very good price. We have an investment in Tradehold, which is a property company which we feel has strong potential," Wiese said on Friday. Tradehold is focused mainly on UK real estate but also holds African property development interests, including in Namibia, along with specialised financial services in the UK and SA. Tradehold and Texton together developed the Broad Street Mall in Reading in the UK through a joint venture....
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