Redefine to buy 14 properties from Zenprop

Posted On Wednesday, 19 October 2011 02:00 Published by Commercial Property News
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Listed property stock Redefine has announced that it will be purchasing fourteen office and industrial properties for R1.8 billion rand from Zenprop group, payable in cash.

Listed property stock Redefine announced on Wednesday it would be purchasing fourteen office and industrial properties for R1.8 billion rand from Zenprop group, payable in cash.

The company labelled the properties as "high quality" and said the acquisitions were in line with its strategy to improve the quality of its core property portfolio.

The aim is to do this through an investment focus on larger, well-located high-grade investment properties, which are mostly single tenanted.

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