Axis-REIT to buy logistics warehouse for RM390mil, its largest acquisition

KUALA LUMPUR: Axis Real Estate Investment Trust’s (Axis-REIT) trustee, RHB Trustees Bhd has entered into a sale and purchase agreement to acquire a 1.54 million sq ft logistics warehouse facility in Pelabuhan Tanjung Pelepas (PTP), Johor from Equalbase PTP Sdn Bhd (EPSB) for RM390mil.

In a statement, Axis-REIT said upon the completion of the proposed acquisition, which is expected to be by mid-2022, the property will be leased back to EPSB for a fixed term of 10 years.