COMPLETION OF THE ACQUISITION BY AXIS REAL ESTATE INVESTMENT TRUST (“Axis-REIT” OR THE “FUND”) OF A PIECE OF FREEHOLD LAND HELD UNDER H.S. (D) 457193 FOR LOT PTD 163837 IN THE MUKIM OF PULAI, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR MEASURING APPROXIMATELY 422,370 SQUARE FEET (39,239.49 SQUARE METRES) BUILT UPON WITH A TWO (2)-STOREY PURPOSE BUILT HYPERMARKET COMPLEX INCLUSIVE OF 1,096 CAR PARKING BAYS (“THE TESCO JB PROPERTY”), FROM BUKIT INDAH (JOHOR) SDN BHD (CO. NO. 307260-V) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM75.60 MILLION (“PROPOSED ACQUISITION OF THE TESCO JB 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 PIECE OF FREEHOLD LAND HELD UNDER H.S. (D) 457193 FOR LOT PTD 163837 IN THE MUKIM OF PULAI, DISTRICT OF JOHOR BAHRU, STATE OF JOHOR MEASURING APPROXIMATELY 422,370 SQUARE FEET (39,239.49 SQUARE METRES) BUILT UPON WITH A TWO (2)-STOREY PURPOSE BUILT HYPERMARKET COMPLEX INCLUSIVE OF 1,096 CAR PARKING BAYS (“THE TESCO JB PROPERTY”), FROM BUKIT INDAH (JOHOR) SDN BHD (CO. NO. 307260-V) FOR A TOTAL LUMP SUM CASH CONSIDERATION OF RM75.60 MILLION (“PROPOSED ACQUISITION OF THE TESCO JB PROPERTY”) |
| Contents | Pursuant to the announcement made on 24 August 2010 on the Proposed Acquisition of the Tesco JB 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 24 August 2010 executed between Bukit Indah (Johor) Sdn Bhd and OSK Trustees Berhad, the said Proposed Acquisition of the Tesco JB Property was completed on 1 October 2010. This announcement is dated 1 October 2010. |
Announcement Info
| Company Name | AXIS REAL ESTATE INVESTMENT TRUST |
| Stock Name | AXREIT |
| Date Announced | 1 Oct 2010 |
| Category | General Announcement |
| Reference No | CCS-101001-1E28B |
