Emira Property Fund looking to offload older assets
Company’s total dividend falls 31% in the year to June as rent deferments and discounts ate up its cash
31 August 2020 - 18:51
Emira Property Fund, which owns properties such as Knightsbridge office park in Bryanston, Hyde Park Lane in Sandton and Kramerville Corner mall is looking to sell older assets after its financial year was ruined by the economic lockdown imposed to prevent the spread of coronavirus.
The diversified real estate investment trust (Reit) is looking to offload Epsom Downs shopping centre in SA’s largest suburb, Bryanston, to ease pressure on its balance sheet after its loan-to-value ratio rose above the level that investors regard as an indication that it can meet financial obligations...
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