Privately owned property developer Alleyroads has acquired a portfolio of sectional-title units and student accommodation from Pulse Property for R1.2bn as it expands its assets, especially in the lucrative tertiary education residential market.

Alleyroads founder and COO Ivan Pretorius said the properties in the Western Cape, Eastern Cape and Gauteng made for a compelling investment opportunity and “further diversifies our current exposure to residential rental apartments by introducing student accommodation to our portfolio”...

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