Grit Real Estate Income Group Ltd - pan-African income real estate company - Reduces interest in Acacia Estate, a 76 residential units condominium property located in Maputo, Mozambique, to 63% from 80%. To realise USD11.8 million from the part-stake disposal. Acacia Estate will remain a core asset but the company believes it has reached an attractive valuation yield of 7.9% at June 30, up by 9.4% on August 2018 acquisition value.
Current stock price: 47.75 pence
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Grit Real Est. (GR1T)