Fortress Property Income Fund (FFB‚FFA) said it had subscribed for additional shares in AltX-listed Rockcastle Global Estate for just more than R500m as part of its strategy to increase offshore indirect property exposure.

Rockcastle‚ which has a primary listing on the Stock Exchange of Mauritius‚ had issued shares to raise capital that will be invested in listed real estate securities and/or direct property in selected jurisdictions.

The latest share acquisition brings Fortress's holding in Rockcastle to 21.93%.