Hemingways Mall and Baywest Mall are up for sale.
This follows after the Rebosis Property Fund, the first major black-owned real estate investment trust to list on the JSE over a decade ago, went into business rescue last year.
The group’s financial troubles partly go back to Brexit, after a failed venture in the UK, which saw its UK properties being written down significantly and sold for almost nothing.
Its debt ratio was already one of the highest in the sector when Covid hit, which broke the camel's back.
Moneyweb spoke to Jacques du Toit of the DTB Business Rescue on its Property podcast this week who says they are hoping to get an offer to purchase within six months.
He says letters of interest will be filed on Monday.
You can listen to the full podcast here.
