Emira Property Fund has proposed a general offer to Transcend Residential Property Fund shareholders to acquire all the shares in Transcend that Emira doesn’t already own.

Emira Property Fund today reported a 1.7% year-on-year increase in distributions for its half-year ended 31 December 2019, in line with its positive market guidance.

Emira Property Fund has reported a 3.1% increase in distributions for its financial year ended 30 June 2019, delivering on its market guidance and continuing its dividend growth for the second consecutive year following its successful turnaround.

Emira Property Fund’s refurbished warehouse facility superbly located in the popular industrial hub of Denver, Johannesburg, has opened its doors, attracting savvy tenants looking for state-of-the-art warehouse facilities, paired with contemporary office space and excellent energy efficiency.

Emira Property Fund has made two further equity investments into grocery-anchored dominant shopping centres in the USA, both located in the state of Texas.

JSE-listed Emira Property Fund will take a minority stake in JSE AltX-listed Transcend Residential Property Fund, furthering Emira’s stated strategy of expanding its investment in residential rental property.

JSE listed Balwin Properties Limited (“Balwin”) and Transcend Residential Property Fund (“Transcend”) today announced a strategic alliance with the intention to bring to market up to 8,900 quality affordable rental apartments across five developments in key Gauteng nodes over the next six years.

Transcend Residential Property Fund will give investors exposure to a robust rental market following its listing, says CEO Rob Wesselo.