Attacq is developing Waterfall City, located in Johannesburg, Gauteng
JSE-listed real estate investment trust Attacq, which is developing Waterfall City, in Gauteng, has concluded its landmark R2.7-billion transaction with the Government Employees Pension Fund (GEPF).
Under the terms of the transaction, the GEPF has acquired a 30% shareholding in Attacq Waterfall Investment Company Proprietary Limited – the company that holds the Waterfall City development rights.
Attacq says that the company will now have a stronger, de-leveraged balance sheet and optimised capital structure to bolster both development opportunities and distributable income to shareholders.
“We are delighted that shareholders have given their stamp of approval to this landmark transaction, which will see us working alongside the GEPF as we execute on our purpose-led strategy of creating long-term sustainable value,” comments Attacq CEO Jackie van Niekerk.