AME Elite and AME REIT announce RM119.5mil industrial properties transaction in Iskandar Malaysia

KUALA LUMPUR: AME Real Estate Investment Trust's (AME REIT) manager I REIT Managers Sdn Bhd has proposed to acquire four industrial properties in Iskandar Malaysia, Johor, from the subsidiaries of AME Elite for a total cash consideration of approximately RM119.5mil.

The related party acquisition will see the REIT acquiring industrial lots at i-TechValley and i-Park with factories, mezzanine offices and other ancillary buildings.