Pavilion REIT buys Elite Pavilion Mall and assets for RM580mil

KUALA LUMPUR: Pavilion Real Estate Investment Trust (Pavilion REIT) has acquired Elite Pavilion Mall and its related assets from Urusharta Cemerlang (KL) (UCKL) Sdn Bhd and Urusharta Cemerlang Sdn Bhd (UCSB) for RM580mil.

In a filing to Bursa Malaysia, Pavilion REIT said it had signed a conditional sale and purchase (S&P) agreement with UCKL for the acquisition of Elite Pavilion and vesting agreement with UCSB and UCKL for the vesting of the extension-connections.