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fairvest Portfolio adds R326m muscle

February 1 2013 at 08:00am
By Roy Cokayne

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A property portfolio comprising largely local shopping centres has been sold to listed Fairvest Property Holdings for R326 million by SA Corporate Real Estate. Sean Berowsky, a national property investments specialist at property management company Broll, which handled the deal, said yesterday that the deal would provide Fairvest with the ability to grow the fund in the near term in a segment that had seen frenetic dealmaking with a spate of new listings entering the market in the past 18 months. The majority of properties in the portfolio are shopping centres in areas where households have low living standards measures. The units were untraded at R1.37. – Roy Cokayne


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