PETALING JAYA: AME Real Estate Investment Trust
(AME REIT) has entered into a sale and purchase agreement with an existing tenant for the sale of three industrial properties in i-Park @ SILC for a total cash consideration of RM14.5mil.
In a statement, the industrial REIT said the properties, i-Park SILC 3, i-Park SILC 4, and i-Park SILC 6 comprise 1.5-storey semi-detached factories with ongoing leases with a combined agreed lettable area of 37,104 sq ft.
“The sale price represents a significant premium of between 18.5% and 24.8% above the respective market value of the properties as appraised by the independent valuer,” said AME REIT.
It said the transaction is expected to generate a gain on disposal of RM4.5mil (excluding estimated incidental costs), representing a 44.7% gain over the original cost of investment.
“This move is in line with AME REIT’s strategy of portfolio optimisation by unlocking capital appreciation achieved on mature assets against a backdrop of strengthening capital values within the Johor-Singapore Special Economic Zone.”
