Tower Property Fund to trim its portfolio
The landlord is likely to become a private company in the coming months, focused on its star properties
Tower Property Fund, the diversified real estate investment trust (Reit) which received a takeover offer in May, will sell a number of properties so it can stave off the effects of a weak economy which has been battered by the Covid-19 pandemic.
“We want to focus on owning our best-performing assets. These include the Cape Quarter mixed-use development and a number of Cape offices as well as our Croatian properties,” CEO Marc Edwards said...