Commercial Property In brief South Africa

Fortress acquires Weskus Mall for R469,9m in cash

Fortress acquires Weskus Mall for R469,9m in cash

Fortress Income Fund (FFB‚ FFA) said on Monday it had acquired Weskus Mall for R469,9m in cash. The Western Cape-based centre is anchored by Checkers‚ Edgars‚ Game and Woolworths. The deal‚ which still requires the approval of the Competition Commission‚ represents a yield of 7.75%. Source: BDpro via I-Net Bridge

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