Transcend Residential Property Fund Limited (JSE:TPF) entered into an agreement to acquire 253 residential sectional title units located in Bester Road, Unclear, Cape Town, Western Cape from South Africa Workforce Housing Fund II, managed by International Housing Solutions, for approximately ZAR 150 million on September 21, 2021. The consideration will be paid in cash and will be funded through the raising of debt and equity in the ratio of approximately 40% debt and 60% equity, which equity will be raised pursuant to a vendor consideration placement of new Transcend ordinary shares. In a related transaction, Transcend Residential Property Fund Limited entered into an agreement to acquire 189 residential sectional title units located in North Boundary Road, Helderwyk, Brakpan, Gauteng from Renico Construction Proprietary Limited for ZAR 102 million in cash. The transaction is subject to South Africa Workforce Housing Fund II having obtained consent from its bondholder, Transcend Residential Property Fund Limited having received approval from its shareholders, receipt of relevant regulatory approvals, including that of the Competition Authorities and Transcend having raised the necessary equity and/or debt funding and executed binding funding agreements in order to fund the transaction and such funding agreements becoming unconditional. Tenurey BSM Proprietary Limited acted as financial advisor, Tonkin Clacey Incorporated acted as legal advisor and KPMG acted as accountant for Transcend Residential Property Fund Limited.