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Balwin, Transcend partner to deliver 8 900 affordable rental apartments in Gauteng

1st September 2017

By: Anine Kilian

Contributing Editor Online

     

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JSE-listed Balwin Properties and Transcend Residential Property Fund have entered into a strategic alliance to bring to market up to 8 900 high-quality, affordable rental apartments across five developments in key Gauteng nodes over the next six years.

Balwin will be responsible for the design and construction of each development and sectional title apartment, as well as for marketing and securing lease agreements for the apartments with prospective tenants.

Transcend will buy fully tenanted apartments from Balwin in phases.

Transcend intends to participate in all five developments, but each development will be treated and reviewed independently.

“The planned developments, worth an estimated R6.4-billion, will see us deliver up to 8 900 premium apartments designed to offer quality finishes not yet seen in the affordable rental market,” Balwin CEO Steve Brookes said in a statement.

He added that Transcend’s focus on predominantly walk-up apartments strate- gically located in desirable neighbourhoods and often equipped with lifestyle- enhancing facilities was in line with Balwin’s proven development model and popular design.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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