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

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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