Transcend Residential Property Fund would give investors exposure to a robust rental market following its listing, said CEO Rob Wesselo. Very little residential property is listed in SA but there has been growing interest to change this as investors look to buy into specialised, lower-risk funds. About 3% of listed property includes residential assets. Transcend is a real estate investment trust (Reit) created by the private equity group, International Housing Solutions. It listed on the JSE AltX on Thursday with a market capitalisation of R489m and a rental portfolio of assets worth R1.165bn, at a yield of 9.25%. It is the second totally focused residential Reit to join the JSE, after Indluplace Properties listed last year. International Housing Solutions partners with financial institutions, real estate developers, private capital groups and the government to provide equity finance for various residential projects. It has created about 27,000 new units for sale and rent since it l...
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