Accelerate Property Fund (APF) recently acquired approximately half of the iconic Portside Tower in the Cape Town CBD, recognised as Cape Town's tallest building.

The Johannesburg-based property fund bought the stake in Portside from previous owner Old Mutual Life Assurance, with First Rand remaining the co-owner occupying the upper floors in the building. The transaction was brokered exclusively by Baker Street Properties in Cape Town, with the company also assuming responsibility for the marketing, leasing and management of the property.

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