When faced with low growth, the executives at a number of SA Reits looked towards Central and Eastern Europe and the Antipodes for growth and raised foreign currency debt to fuel their expansion.
They now lack sufficient equity to absorb the losses from Covid-19 shutdowns. debt-to-market value ratios have risen dramatically.an economist and former chief investment strategist at Investec Wealth & Investment; and David Holland, adjunct professor at the UCT Graduate School of Business
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