Growthpoint makes potential offer.
Category Property Fund News
Growthpoint Properties said on Wednesday it had tabled a potential offer to acquire the remaining shares of Acucap Properties in a deal that will increase its exposure to retail assets. Growthpoint said the proposed transaction would increase the size of its South African property portfolio to just more than R72bn‚ while providing Acucap investors with a greater spread of assets and significantly reduced concentration risk. Acucap‚ which merged with Sycom Properties‚ owns several regional shopping centres‚ including Greenacres in Port Elizabeth‚ Festival Mall in Kempton Park and Keywest Shopping Centre in Krugersdorp.
Author: eProp Commercial Property News
