COMPLETION OF THE ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR THE “FUND”) OF A FIVE STOREY OFFICE CUM FLATTED FACTORY, WITH MEZZANINE FLOOR AND A TWO (2) LEVEL BASEMENT CAR PARK WITH AN APPROXIMATE LETTABLE AREA OF 104,903 SQ. FT. ERECTED ON LAND UNDER A 99 YEARS LEASEHOLD TITLE NO. PN 29932 FOR LOT 84 SEKSYEN 13 (FORMERLY H.S.(D) 97253, P.T.3), BANDAR PETALING JAYA, DAERAH PETALING, NEGERI SELANGOR MEASURING APPROXIMATELY 49,675 SQ.FT. (THE “PROPERTY”) EXPIRING ON 21 OCTOBER 2068, FROM WAH SEONG INDUSTRIAL HOLDINGS SDN BHD (NO. 213453-T) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM37.0 MILLION (“PROPOSED ACQUISITION OF THE PROPERTY”)
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | COMPLETION OF THE ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST (“AXIS-REIT” OR THE “FUND”) OF A FIVE STOREY OFFICE CUM FLATTED FACTORY, WITH MEZZANINE FLOOR AND A TWO (2) LEVEL BASEMENT CAR PARK WITH AN APPROXIMATE LETTABLE AREA OF 104,903 SQ. FT. ERECTED ON LAND UNDER A 99 YEARS LEASEHOLD TITLE NO. PN 29932 FOR LOT 84 SEKSYEN 13 (FORMERLY H.S.(D) 97253, P.T.3), BANDAR PETALING JAYA, DAERAH PETALING, NEGERI SELANGOR MEASURING APPROXIMATELY 49,675 SQ.FT. (THE “PROPERTY”) EXPIRING ON 21 OCTOBER 2068, FROM WAH SEONG INDUSTRIAL HOLDINGS SDN BHD (NO. 213453-T) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM37.0 MILLION (“PROPOSED ACQUISITION OF THE PROPERTY”) |
| Contents | Pursuant to the announcement made on 12 October 2007 on the Proposed Acquisition of the Property, Axis REIT Managers Berhad, the management company of Axis-REIT, is pleased to announce that after fulfilling all the terms and conditions as stipulated in the Sale and Purchase Agreement dated 12 October 2007 executed between Wah Seong Industrial Holdings Sdn Bhd and OSK Trustees Berhad, the said Acquisition of the Property was completed on 25 January 2008. This announcement is dated 25 January 2008. |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 25 Jan 2008 |
| Category | General Announcement |
| Reference No | CCS-080125-2A779 |
