Capital Property spins off Grand Central

Posted On Friday, 20 August 2010 02:00 Published by eProp Commercial Property News
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Property unit trust Capital Property Fund announced on Thursday that it had concluded an agreement for the disposal of one of its properties, Grand Central to Kitso Capital for R400 million.

 

Capital Property Fund

 

 

 

 

 

 

 

The purchase price is payable in cash.

The transaction is subject to regulatory approval, and other conditions precedent.

The disposal of Grand Central is in line with Capital's strategy of becoming a specialised commercial and industrial fund owning only A-grade properties.

The cash proceeds will be used by Capital to reduce interest-bearing borrowings.

Last modified on Tuesday, 22 April 2014 18:12

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