Redefine expands Poland portfolio

As JSE-listed Redefine Properties implements several small incremental adjustments to withstand the current economic headwinds, the real estate investment trust (Reit) is in the midst of concluding a strategic acquisition that will expand its international footprint further. Redefine will buy a 25% stake in an undisclosed €1-billion retail portfolio in Poland, while partners Pimco and Oaktree Capital Management will each acquire 37.5% of the portfolio, with expectations that the deal, subject to “sensitive negotiations”, will conclude by February.