PETALING JAYA: Axis Real Estate Investment Trust
(Axis-REIT) is acquiring a fully occupied distribution centre in Bandar Saujana Putra, Selangor, from City-Link Express (M) Sdn Bhd for RM128mil cash.
Axis-REIT's trustee, RHB Trustees Bhd, has entered into a sale and purchase agreement for the property, which comprises a distribution centre and ancillary buildings on two contiguous leasehold commercial land parcels with a combined area of about 46,776 sq metres.
The facility has a lettable area of approximately 355,023 sq ft and currently serves as one of City-Link Express' distribution hubs.
The acquisition is expected to be completed in the fourth quarter of 2026. Upon completion, City-Link Express will lease back the property under a 15-year arrangement, providing Axis-REIT with an initial monthly rental income of RM661,878, subject to periodic rental escalations.
Axis-REIT said the acquisition will be financed through existing bank facilities and is expected to raise its financing ratio to about 33.94% of audited total assets as at Dec 31, 2025.
The property is strategically located near major highways, including the ELITE, SKVE, WCE and KESAS expressways, providing connectivity to key logistics corridors in the Klang Valley.
