RMH sells warehouse stake for R55.6m
RMB Holdings Limited has sold a warehouse in Montague Gardens for R55.6 million through its property subsidiaries, achieving a 9% initial yield.
The transaction was completed through RMH's complex ownership structure - its subsidiary RMH Property holds 50% of Integer Properties 3, which owns 50% of Senzosol, the entity that sold the warehouse.
RMH will receive approximately R22.2 million in net proceeds, which will be used to reduce a shareholders' loan. The sale represents less than 5% of RMH's market capitalization as of August 15, 2024.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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