Investec Property Fund is to sell three retail warehouses, all of which are in locations that are noncore to the fund and do not align with the company’s long-term retail strategy.
The sale is part of its capital recycling, Investec said in a statement on Friday. In the short term, the sale proceeds would be used to pay down debt and further reduce loan-to-value to 37.9%, it said. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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