South African real-estate investor, Growthpoint Properties, and Public Investment Corporation (PIC) will acquire Cape Town’s Victoria & Alfred Waterfront shopping mall, Bloomberg reports. Growthpoint and PIC will pay about $1.33 billion for the mall and surrounding properties. Growthpoint will finance its part of the purchase, about $673 million, through long-term bank loans. Istithmar World, London & Regional Properties and a group of local investors have sold the mall.
Click here for the story from Bloomberg.
Click here for the additional coverage from Reuters.