Retail-oriented property fund Fairvest Property Holdings said on Tuesday it had entered into an agreement with Born Free Investments 385 to acquire rental enterprises for R133 million.

The group said it would fund the acquisition through debt and or equity.

"The acquisition is consistent with the company's growth strategy whereby the company will focus on acquiring retail assets with a weighting in favour of non-metropolitan areas and lower LSM (living standards measure) sectors," the company said.