Rebosis Property Fund, whose debt has eroded 98% of its market value over the past five years, has inked a R6.32bn deal that would see it sell its mostly government-let commercial portfolio to a vehicle wholly owned by Vunani Capital Partners.

Valued at R196m on the JSE, Rebosis, led by founder Sisa Ngebulana, owns a mix of shopping malls and offices, and is struggling under a R9.4bn debt pile...

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