PROPOSED ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST (“Axis-REIT” OR THE “FUND”) OF THE UNEXPIRED 44 YEARS 11 MONTHS SUB-LEASE INTEREST OF A PORTION OF LAND IDENTIFIED AS PLOT D8, DISTRIPARK A, PELEPAS FREE ZONE, MEASURING APPROXIMATELY 266,587.2 SQUARE FEET (6.12 ACRES), FORMING PART OF THE LAND HELD UNDER HSD 303868 FOR LOT PTD NO. 2423 MUKIM OF TANJUNG KUPANG, DAERAH JOHOR BAHRU, NEGERI JOHOR PRESENTLY BUILT UPON WITH A SINGLE STOREY WAREHOUSE AND TWO (2) STOREY OFFICE BUILDING ("THE PROPERTY”) FROM ZONE CAPACITY SDN. BHD. (Co. No. 573019-U) FOR A TOTAL LUMP SUM CONSIDERATION OF RM30,000,000 (“PROPOSED ACQUISITION OF THE PROPERTY”).
| AXIS REAL ESTATE INVESTMENT TRUST |
| Type | Announcement |
| Subject | PROPOSED ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST (“Axis-REIT” OR THE “FUND”) OF THE UNEXPIRED 44 YEARS 11 MONTHS SUB-LEASE INTEREST OF A PORTION OF LAND IDENTIFIED AS PLOT D8, DISTRIPARK A, PELEPAS FREE ZONE, MEASURING APPROXIMATELY 266,587.2 SQUARE FEET (6.12 ACRES), FORMING PART OF THE LAND HELD UNDER HSD 303868 FOR LOT PTD NO. 2423 MUKIM OF TANJUNG KUPANG, DAERAH JOHOR BAHRU, NEGERI JOHOR PRESENTLY BUILT UPON WITH A SINGLE STOREY WAREHOUSE AND TWO (2) STOREY OFFICE BUILDING ("THE PROPERTY”) FROM ZONE CAPACITY SDN. BHD. (Co. No. 573019-U) FOR A TOTAL LUMP SUM CONSIDERATION OF RM30,000,000 (“PROPOSED ACQUISITION OF THE PROPERTY”). |
| Contents | The Board of Directors of Axis REIT Managers Berhad, the management company of Axis-REIT, wishes to announce that OSK Trustees Berhad, the trustee for Axis-REIT, has entered into a sale and purchase agreement dated 20 April 2010 in relation to the Proposed Acquisition of the Property on behalf of Axis-REIT. Please refer to the attachment below for the details of the announcement. |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 20 Apr 2010 |
| Category | General Announcement |
| Reference No | CCS-100420-2D390 |
