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Emira Property Fund has made an offer to buy the remainder of Transcend Residential Property Fund that it doesn’t already own to increase its exposure to residential properties in the lower living standards measure (LSM) sector of the market.

Emira, which owns retail, office, industrial and residential properties, is offering R5.38 per Transcend share, it said in a statement on Wednesday. Transcend confirmed the offer in its own statement on Wednesday...

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