Fairvest sells more than R1bn in assets to focus on retail
Mainly office and small retail assets were sold with proceeds used to repay debt
Fairvest, owner of retail centres in rural areas and small towns, sold more than R1bn worth of noncore assets in its most recent financial year as it transitions to a retail-focused real estate investment trust.
The disposals are in line with its objective to move towards becoming a retail-focused fund. Noncore disposals will continue with proceeds used to reduce loan to value...
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