Capital & Regional slashes debt with R783m sale of UK mall
Cash sale to the Adhan Group of Companies shaves six percentage points off the company's net loan to value ratio
24 May 2022 - 15:02
Capital & Regional has sold The Mall shopping centre in Blackburn, UK, for £40m (R783m) as the JSE-listed real estate investment trust moves to cut its debt.
The Mall contributed about £3.7m to Capital & Regional’s net rental income for the year ended 2021, and the sale is expected to be finalised by the end of June...
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