Vividend buys Edgars Church Street for R38.4m

Posted On Friday, 01 April 2011 02:00 Published by eProp Commercial Property News
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Vividend Income Fund has entered into an agreement with R & A Admin CC to acquire the property and letting enterprise commonly known as Edgars Church Street.

Ari Jacobson

Vividend Income Fund has entered into an agreement with R & A Admin CC to acquire the property and letting enterprise commonly known as Edgars Church Street for R38.4 million in cash.

The property fund said the acquisition was consistent with its strategy of acquiring properties that had free cash flow yields that provide adequate value enhancement to linked unitholders.

The deal was subject to conditions precedent, expected to be fulfilled by May 1.

Last modified on Wednesday, 15 January 2014 12:31

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