R222m apartment sales help Transcend pay off debt
The continuous selling of units is helping the company to reduce its high debt levels
15 August 2022 - 14:54
Transcend, the residential real estate investment trust (Reit), sold apartments valued at R222m during the first quarter of 2022 and used the cash proceeds to pay off debt.
For the six months ended June 2022, its loan-to-value was reduced to 39.3% from 44.9% and 52.7% in December 2021 and December 2020 respectively...
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