Investec Property Fund to sell three retail warehouses for R271m
The assets are not in alignment with the fund’s long-term strategy
23 January 2022 - 17:59
Investec Property Fund (IPF) is to sell three retail warehouses, all of which are in locations that are noncore to the fund and do not align with the company’s long-term retail strategy.
The sale is part of its capital recycling, Investec said in a statement on Friday. In the short term, the sale proceeds would be used to pay down debt and further reduce loan-to-value to 37.9%, it said. ..
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