AME Real Estate Investment Trust (AME REIT) has inked a deal to purchase three parcels of vacant freehold industrial land measuring 3.59 hectares at i-Park @ Senai Airport City, Johor for RM50.2 million. This is the first acquisition of a third-party asset since its listing.
Bernama reported that AME REIT said in a statement that RHB Trustees Bhd, on its behalf, had signed a sale and purchase agreement (SPA) for the proposed acquisition.
The identity of the vendor from whom the land is being purchased, however, has not been disclosed by AME REIT.
The transaction is AME REIT’s first third-party acquisition since its listing, following RM289.5 million in completed asset acquisitions by its sponsor, AME Elite Consortium Bhd.
“The investment deepens AME REIT’s presence in a strategic industrial hub, where i-Park@SAC properties already comprise 48.6% of its portfolio by value.
“AME REIT’s expansion within the mature park leverages its established operational scale and deep market knowledge, with the new parcels situated alongside multinational manufacturing and logistics players,” it said.
Chan Wai Leo, CEO and Executive Director of I REIT Managers Sdn Bhd, AME REIT’s management company, stated that expanding the REIT’s footprint in i-Park @ Senai Airport City would allow it to leverage its existing expertise and execution capabilities to accelerate its growth.
“This transaction also broadens our investment channels, strengthens our portfolio resilience, and reinforces our commitment to deliver sustainable earnings and long-term value to our unitholders,” he said.
