COMPLETION OF THE ACQUISITION OF TWO PARCELS OF CONTIGUOUS INDUSTRIAL FREEHOLD LAND IN MUKIM KAPAR, DISTRICT OF KLANG, STATE OF SELANGOR BUILT UPON WITH INDUSTRIAL BUILDINGS AND ANCILLARY BUILDINGS ACQUIRED FROM IDS LOGISTICS SERVICES (M) SDN BHD FOR A TOTAL OF RM71.750 MILLION.
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | COMPLETION OF THE ACQUISITION OF TWO PARCELS OF CONTIGUOUS INDUSTRIAL FREEHOLD LAND IN MUKIM KAPAR, DISTRICT OF KLANG, STATE OF SELANGOR BUILT UPON WITH INDUSTRIAL BUILDINGS AND ANCILLARY BUILDINGS ACQUIRED FROM IDS LOGISTICS SERVICES (M) SDN BHD FOR A TOTAL OF RM71.750 MILLION. |
| Contents | Completion of the Acquisition by Axis Real Estate Investment Trust (“Axis-REIT" or the “Fund”) of industrial buildings and ancillary buildings erected on two (2) parcels of contiguous industrial freehold land identified as GRN 59001 for Lot 26028 and HSD 99548 for Lot PT 48025 both in the Mukim Kapar, District of Klang, State of Selangor measuring approximately 71,733 sq. metres (772,127 sq.ft) (“the Property”), from IDS Logistics Services (M) Sdn Bhd (No. 4593-D) for a total lump sum cash consideration of RM71.750 million and lease back to IDS Logistics Services (M) Sdn Bhd (“Proposed Acquisition of the Property”) |
Pursuant to the announcement made on 19 November 2009 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 19 November 2009 executed between IDS Logistics Services (M) Sdn Bhd and OSK Trustees Berhad, the said Acquisition of the Property was completed on 14 December 2009.
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 14 Dec 2009 |
| Category | General Announcement |
| Reference No | CCS-091214-235C8 |
