M & F Giuricich Developments (Pty) Ltd agreed to acquire Three retail warehouses from Investec Property Fund Limited (JSE:IPF) for approximately ZAR 270 million on January 24, 2022. The assets are in Bloemfontein in the Free State, which is being sold for ZAR 99 million, Polokwane in Limpopo for ZAR 107 million and Witbank in Mpumalanga for ZAR 65 million. In the short term, the sale proceeds would be used to pay down debt and further reduce loan-to-value to 37.9%.

M & F Giuricich Developments (Pty) Ltd completed the acquisition of Three retail warehouses from Investec Property Fund Limited (JSE:IPF) during H1 2022.