ABN – Delta Africa Property Fund has entered a third country by acquiring significant holdings in two Zambian shopping malls.
It has done this by acquiring the 50% interests currently held by Rockcastle Global Real Estate in Kafabu Mall and Makuba Mall.
The remaining half of each mall will continue to be held by Stephen Herring and his development company.
The Kafabu Mall deal is worth an estimated $4.08 million and the Makuba Mall deal worth $17.5 million; both transactions will be settled in cash.
Delta CEO Bronwyn Corbett said the company’s expansion into Zambia would send a positive message to other property investors on the Johannesburg Stock Exchange.
She added that Delta will continue to grow, with plans for its management team to move to Mauritius.