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Vukile’s Castellana lists on Spanish Stock Exchange

25th July 2018

By: Marleny Arnoldi

Deputy Editor Online

     

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JSE-listed real estate investment trust Vukile Property Fund’s 98%-owned Spanish subsidiary Castellana Properties on Wednesday listed on the Spanish Stock Exhange’s Mercado Alternativo Bursátil.

The shares were listed at an introductory price of €6 apiece, which attributes a market capitalisation to Castellana of about €204-million.

As at March 31, Vukile’s investment in Castellana accounted for 21% of Vukile’s total assets.

Castellana acquires, manages and leases real estate assets, mainly shopping centres and other retail assets, in Spain.

The company’s portfolio comprises 15 properties with a gross asset value of €391-million and a gross leasing area of 197 132 m2, with vacancies at 3.3%.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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