Investec Property Fund to sell three retail warehouses for R271m
The assets are not in alignment with the fund’s long-term strategy
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. ..