Turnaround plan leads to RDI Reit selling four assets in Germany and the UK
RDI Reit, in which SA’s second largest real estate group Redefine Properties is the majority shareholder, has sold four assets in Germany and the UK for nearly R2bn as it rolls out a turnaround strategy after three-and-a-half years of havoc caused by uncertainty over Brexit and the rise of online retailing.
RDI, which is 29.44% held by Redefine Properties and is its UK arm, sold an office in the UK and three shopping centres in Germany as part of this strategy, which involves shifting its focus primarily to British hotels, light industrial warehouses and flexible-term offices with its retail assets becoming secondary...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.