New property fund aims to renew South Africa’s cities
Divercity Urban Property Fund is seeking to renew and re-energise South Africa’s urban centres, and is backed by the experience of leading property specialists and a R2-billion seed portfolio of landmark property assets. Divercity’s biggest shareholders are Atterbury Group and Ithemba Property, with Talis Property Fund also playing a major part in the establishment of the fund. Cornerstone investors are RMH Property and Nedbank Property Planners. Regulatory approval of the fund is expected by the end of July. Divercity focuses on pre-identified precincts or corridors within major South African cities, rather than individual properties.
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