Spear bolsters Western Cape industrial assets

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Spear bolsters Western Cape industrial assets

Published Date: 2019-04-16 | Source: Stephen Gunnion | Author: Stephen Gunnion | Comments

Spear bolsters Western Cape industrial assets

The real estate investment trust is paying R112 million for the Radnor Road Distribution Centre.

Spear REIT (real estate investment trust) has bought a distribution centre in Tygerberg as it increases its exposure to industrial properties in Cape Town.

It's paying Capital Propfund Pty Ltd. R112 million for the Radnor Road Distribution Centre in a sale of letting business agreement, which includes the rental enterprise conducted by Capital Propfund.

Spear said it may undertake an equity capital raise ahead of the transfer date through a vendor consideration placing, an issue of shares for cash or a rights offer to pay for the property.





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