IGB-REIT Management expects MVS Mall to add value to IGB-REIT’s portfolio by delivering a yield-accretive investment.
KUALA LUMPUR: IGB Real Estate Investment Trust
(IGB-REIT) has completed its RM2.65bil acquisition of The Mall, Mid Valley Southkey (MVS Mall) in Johor Baru, raising the trust’s total assets under management to RM8.09bil, up from RM5.44bil.
IGB-REIT said in a statement that the purchase price was paid with RM1bil in cash and RM1.65bil via the issuance of 699.15 million new units at RM2.36 per unit, which will be listed on the Main Market of Bursa Malaysia today.
