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Investec Property Fund Eyes Midrand Asset
Property loan stock company Investec Property Fund is seeking to purchase a property in Midrand from North Mid Corporate Park for $92.346 million.
Property loan stock companyInvestec Property Fundis seeking to purchase a property in Midrand fromNorth Mid Corporate Parkfor $92.346 million,Business Dayreports. The buyer will also be responsible for the refurbishment of the property at a fixed cost of $50.85 million, increasing the total deal cost to $143.491 million.
The total deal will be financed by debt. The property is leased toGeneral Electricsince August 1999. The fund, which had four retail properties, seven offices and 18 industrial properties when it listed on theJohannesburg Stock Exchange, boughtGreat North Road Plazain Musina for $17.478 million last month.
Click here for the story fromBusiness Day.