Tower sells Croatian property for R228m
The group, which has assets in SA and Croatia, will use net proceeds of about R120m to pay off debt
18 March 2020 - 10:16
Tower Property Fund, which owns properties in SA and Croatia, said it has sold a retail property in Croatia for €12.4m (R228m), which will be used to reduce its debt.
The sale of the Vukovarska retail property was made at an 11% premium to its book value, “reflecting the strength and desirability of Tower’s Croatian assets, even amidst the current market uncertainty”, the group said...
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