EDWARD WEST edward.west@inl.co.za FAIRVEST Property Holdings (Fairvest) yesterday expressed interest in acquiring a stake in Arrowhead Properties via privately placed share swops paving the way for greater co-operation between the two SA-focused real estate investment trusts.
This decision followed a number of separate approaches from major Arrowhead shareholders requesting Fairvest to consider becoming a shareholder of reference in Arrowhead, a statement said yesterday.
Arrowhead “B” shares increased 4.44 percent to R3.29 on the JSE yesterday afternoon after the announcement was made, while Fairvest shares were lower by 0.53 percent to R1.87 at the same time. Arrowhead “A” shares were unchanged at R9.76.
Fairvest has, according to its website, a portfolio of 43 commercial properties, including shopping centres, valued at about R3 billion. Arrowhead is the landlord of some…
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Cape Times (Digital) - 1 Issue, 2021-04-30