The assets are not in alignment with the fund’s long-term strategy
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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