RESIDENTIAL
INDIRECT INVESTMENT: TRANSCEND
Emira holds 40.6% equity interest in Transcend, a specialist residential REIT listed on the Main Board of the JSE. Emira’s CEO is a member of Transcend board of directors, which gives the Fund crucial involvement in the direction of the REIT. Transcend’s properties are managed by a team of residential experts at International Housing Solutions (IHS).
|
Carrying value (Emira’s share of investment) |
R439m 2020: R506m |
| Sector investment | Residential |
| Total underlying property value | R2.5bn |
| Number of underlying properties | 22 |
| Total GLA | 235 112m² |
| Number of tenants | 3 872 |
| Vacancy | 7.2% (by unit) |
| Shareholding held by Emira | 40.6% |