Axis-REIT buys warehouse facility for RM390mil

PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) has entered into a sale and purchase agreement to acquire a 1.549 million sq ft logistics warehouse facility in the Port of Tanjung Pelepas (PTP), Johor for RM390mil.

The agreement which was entered into by RHB Trustees Bhd will see the company buying the property from Equalbase PTP Sdn Bhd (EPSB) or formerly known as PALI PTP Sdn Bhd.The proposed acquisition will be funded by bank borrowings which will increase Axis-REIT’s gearing ratio to 37.2% of its audited total assets as of Dec 31, 2021.