Property developer Acorn’s student accommodation Development Reit (real estate investment trust) will transfer three completed hostel properties valued atSh4.46 billion to the developer’s Investment Reit this year, utilising the proceeds of the sales to cut its debt amid rising finance costs.
Acorn said in a statement that its D-Reit identified the Karen Qwetu and Qejani units that are located near the Catholic University of Eastern Africa (CUEA) for the transfer, alongside the Qwetu facility at Chiromo.
