Zelaprop 3 (Proprietary) Limited signed an agreement to acquire Property Erf 4687 located at Montague Gardens un South Africa from Accelerate Property Fund Limited (JSE:APF) for ZAR 92 million on March 19, 2021. The transaction is subject to certain conditions including satisfactory due diligence, obtaining financing by Zelaprop 3 (Proprietary) Limited and other necessary consents and approvals customary for this transaction. The effective date for the transaction will be the date on which the last of the conditions precedent are fulfilled or waived, as the case may be, which is expected to be during May 2021. Accelerate Property Fund Limited intends to utilize the full sale proceeds towards the reduction of debt.