trending Market Intelligence /marketintelligence/en/news-insights/trending/lmtn1vvfzg9spdhjo0nyqg2 content esgSubNav
In This List

Rebosis Property agrees 888M-rand sale of six office assets in Cape Town

Blog

Gauging Supply Chain Risk In Volatile Times

Blog

The Future of Risk Management Digitization in Credit Risk Management

Blog

Climate Credit Analytics: Diving into the model

Video

How to use ESG Heat Maps in Credit Risk Analysis


Rebosis Property agrees 888M-rand sale of six office assets in Cape Town

Rebosis Property Fund Ltd. unit Ascension Properties Ltd. agreed to sell six office properties in Cape Town to Boxwood Property Investment Fund for a total of 888.0 million rand.

The properties, known as 14 Long St., 45 on Castle, Bergstan Building, Matrix Building, Nedbank Building and Rebosis House, span 9,975 square meters, 9,537 square meters, 2,838 square meters, 9,001 square meters, 5,905 square meters and 26,245 square meters of rentable area, respectively. They are worth 124.0 million rand, 153.0 million rand, 28.0 million rand, 81.0 million rand, 68.0 million rand and 444.0 million rand, respectively.

Rebosis Property will use proceeds from the sale to reduce its existing debt.

The transaction will be carried out via relevant property letting enterprises, according to a release.

Rand Merchant Bank is serving as sponsor for the transaction.

As of May 16, US$1 was equivalent to 12.47 rand.