Griffin Real Estate is no longer interested in taking over Robyg, a source close to the deal has told CIJ. The fund had been looking to take over the listed local residential developer since last year. However, the talks broke down after hitting an advanced stage at the end of 2015. “Robyg assets aren’t as interesting,” said the source, hinting, however, that talks with Griffin’s counter-bidder are underway.
But Griffin has just been given the green light from the European Commision to sell its standing portfolio to the South African REIT, Redefine. Market sources say Griffin should be able to carry out its development plans now that it has a partner of this size on board.
