Am ARA REIT Managers Sdn Bhd, the manager of AmFIRST Real Estate Investment Trust, has completed its acquisition of Prima
9 and Prima 10 located in Cyberjaya for a cash consideration of RM133 million on Nov 30.
In a statement today, AmInvestment Bank Group said, this was AmFIRST REIT's first investment in Cyberjaya, capitalising on the economic growth and vibrancy of its commercial office segment to achieve wider geographical diversification
of current investment portfolios.
"Prior to the acquisition and as of Sept 30, AmFIRST REIT had six properties with a total net lettable area of 2,311,489 square feet.
"The new acquisition will boost the total investment portfolio to eight properties and add a further 211,496 square feet, representing an increase of nine per cent of the total net lettable area.
"The acquisition records a remarkable growth in the asset under management (AUM) of AmFIRST REIT by 13 per cent from RM1.028 billion as at Sept 30, to RM1.163 billion and the gearing ratio will increase to 46.5 per cent," the statement said.
It added that the two new properties are expected to contribute an additional distributable income of 0.68 sen per unit on an annual basis. -- Bernama
9 and Prima 10 located in Cyberjaya for a cash consideration of RM133 million on Nov 30.
In a statement today, AmInvestment Bank Group said, this was AmFIRST REIT's first investment in Cyberjaya, capitalising on the economic growth and vibrancy of its commercial office segment to achieve wider geographical diversification
of current investment portfolios.
"Prior to the acquisition and as of Sept 30, AmFIRST REIT had six properties with a total net lettable area of 2,311,489 square feet.
"The new acquisition will boost the total investment portfolio to eight properties and add a further 211,496 square feet, representing an increase of nine per cent of the total net lettable area.
"The acquisition records a remarkable growth in the asset under management (AUM) of AmFIRST REIT by 13 per cent from RM1.028 billion as at Sept 30, to RM1.163 billion and the gearing ratio will increase to 46.5 per cent," the statement said.
It added that the two new properties are expected to contribute an additional distributable income of 0.68 sen per unit on an annual basis. -- Bernama
