JSE-listed real estate investment trust Redefine Properties has significantly simplified its asset platform and is now well positioned for organic growth. The company also reduced its loan-to-value (LTV) ratio to 40.2% for the financial year ended August 31, from 42.4% in the previous financial year, says Redefine CEO Andrew Konig. The decrease in the LTV brings it in line with the target range of 38% to 41%. Initiatives to maintain the LTV within this range include ongoing optimisation of the property asset base through the selective disposal of non-core local properties and the sale of two Polish Power Parks, as well as a focus on organic growth in asset values, he notes.
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