COMPLETION OF THE ACQUISITION OF TWO PARCELS OF INDUSTRIAL LEASEHOLD LAND IN THE MUKIM 06 DISTRICT OF SEBERANG PERAI TENGAH, STATE OF PULAU PINANG BUILT UPON WITH INDUSTRIAL BUILDINGS AND ANCILLARY BUILDINGS ACQUIRED FROM IDS LOGISTICS SERVICES (M) SDN BHD FOR RM24.250 MILLION.
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | COMPLETION OF THE ACQUISITION OF TWO PARCELS OF INDUSTRIAL LEASEHOLD LAND IN THE MUKIM 06 DISTRICT OF SEBERANG PERAI TENGAH, STATE OF PULAU PINANG BUILT UPON WITH INDUSTRIAL BUILDINGS AND ANCILLARY BUILDINGS ACQUIRED FROM IDS LOGISTICS SERVICES (M) SDN BHD FOR RM24.250 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 industrial leasehold land identified as HSD 37861 for PT 486 and HSD 37862 for PT 485 both in the Mukim 06, District of Seberang Perai Tengah, State of Pulau Pinang measuring approximately 2,677 hectares (“the Property”), from IDS Logistics Services (M) Sdn Bhd (No. 4593-D) for a total lump sum cash consideration of RM24.250 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 5 March 2010.
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Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 5 Mar 2010 |
| Category | General Announcement |
| Reference No | CCS-100305-2C481 |
