Indluplace Properties Limited has announced that it has agreed with SAWHF, a fund managed by International Housing Solutions, not to proceed with the acquisition of a portfolio of residential properties, owing to current market conditions at this time.
“Indluplace has acquired properties of over R630 million in this financial year and whilst we are disappointed that market conditions do not allow us to make this further acquisition at present this decision is in keeping with our strategy of not concluding dilutionary acquisitions. We remain positive about the growth prospects of Indluplace and will only implement acquisitions that satisfy our investment criteria,” said Carel de Wit, CEO of Indluplace.
“We believe we have shown great discipline by adhering to our strategy of only concluding transactions that are yield enhancing to the Company. Our focus remains on finding quality residential portfolios on a yield accretive basis that provide income from the first day of acquisition to grow Indluplace,” concluded Terry Kaplan, FD of Indluplace.