SENS: Accelerate Property Fund Ltd: Acquisition of offshore portfolio


Accelerate shareholders are referred to the most recent cautionary announcement dated 11 October 2016 in terms of which Shareholders were advised that negotiations relating to the acquisition of an offshore portfolio were ongoing. Accelerate has announced the conclusion of a pre-agreement with the applicable companies that form part of the Supernova Privatstiftung group wherein it was agreed that the applicable Accelerate group entity will enter into binding transaction agreements with the Supernova Privatstiftung (the timing of which is imminent).

In terms of the Transaction Agreements, Accelerate will acquire a portfolio of 9 well located retail warehouse properties tenanted by OBI GmbH & Co. Deutschland KG’s applicable subsidiaries (6 properties in Austria and 3 in Slovakia) for an aggregate acquisition value of €82.1 million at a blended acquisition yield of 7.0% based on contractual rentals.

Read more here: Accelerate_Announcement_21102016v2-Final.pdf