Spear Reit sells 15 on Orange for R246m
The disposal funds will be reinvested and will be used to repay some debt
03 February 2023 - 15:41
Western Cape-based property fund Spear Reit has sold 15 on Orange for R246m at an 8.1% yield to The Capital Hotels and Apartments group, through their wholly owned subsidiary, Zimbali Coastal Resort Proprietary.
The sale proceeds will be used to strengthen the balance sheet and be reinvested into the portfolio, the company said in a statement on Friday...
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