Delta Property Fund in negotiations to sell up to 29 properties
The company has been selling noncore assets to reduce its debt
Delta Property Fund, which has a mostly government tenant base, is at an advanced stage of negotiations to sell 29 of its properties, as part of its strategy to improve the company by selling selected properties, reducing debt, improving costs and lowering the vacancies.
The company, valued at about R171m on the JSE, said on Tuesday in its results for the six months to end-August that it is looking to offload 43 noncore assets, valued at R2.2bn, including the 29 that are in advanced stages of talks, and five properties, valued at R124.5m, expected to be sold in the next six months...
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