Accelerate Property Fund, a Johannesburg Stock Exchange-listed Real Estate Investment Trust REIT partly owned by South African property mogul Michael Georgiou, has agreed to sell the Buzz Shopping Center and Waterford Center in Fourways, Gauteng, for a combined R215 million about 12.2 million.
Sale details and financial impact
The sale is part of Accelerates effort to restructure its portfolio. The properties will be acquired by Dorpstraat Capital Growth Fund and Property House Group Investments in equal undivided shares.