Fairvest to internalise its management company
A committee of directors to consider how best to deal with the asset manager given its possible merger with Arrowhead
Fairvest, the landlord that owns malls in small towns and townships, will insource its management company for R133m, removing an obstacle before a possible merger with peer Arrowhead Properties.
Analysts have said Fairvest must have its property asset management internalised as this is best practice among other listed real estate investment trusts (Reits). Once it has brought the asset manager in-house, Fairvest may pursue the planned merger with Arrowhead, which is also a listed Reit...