AME-REIT buys three industrial properties

PETALING JAYA: AME Real Estate Investment Trust (AME-REIT) has proposed its maiden acquisitions of three industrial properties in Iskandar Malaysia for RM69.3mil from AME Elite Consortium Bhd.

AME-REIT’s proforma total asset value is expected to be raised by 12.8% to about RM644.1mil with the cash purchase, the Islamic REIT manager, I-REIT Managers Sdn Bhd said in an exchange filing.