JOHANNESBURG - Listed property company Rebosis has made progress with its stated strategy to dispose of non-core office assets to become a retail focus fund with the disposal of six Cape Town office properties for a total of R888 million.
The company said yesterday that it had concluded an agreement on Friday to sell the properties to Boxwood Property Investment Fund.
The properties that have been sold are 45 on Castle, 45 Castle Street; Bergstan House, corner of Castle and Loop streets; Matrix House, corner of Strand and Bree streets; Nedbank Centre, corner of Strand and Loop streets; Rebosis House, 9 Riebeek Street; and 14 Long Street.
The transaction is still subject to several conditions. Shares in Rebosis dropped 2.28percent on the JSE yesterday to close at R25.25.