KUALA LUMPUR: Mayban Trustees Bhd (MTB) has proposed to acquire a parcel of land with a five-storey office building in Jalan Teknokrat 7, Cyberjaya from FSBM HOLDINGS BHD [] for RM51.5 million cash, to be injected into AmFirst Real Estate Investment Trust (AmFIRST REIT).
In a statement on Sept 2, Am ARA REIT Managers Sdn Bhd, the REIT's manager, said FSBM had accepted an offer made by MTB. The office building was completed on Jan 31, 2002, with a lettable area of 112,151 square feet, of which 29,008 sq ft is either partly occupied by the vendor or is vacant.
AM ARA said the vendor would provide an assurance and guarantee that the rental income that the purchaser would receive from the untenanted area would be RM8.14 million for a period of six years, comprising the agreed rates of annual rent of RM1.29 million for the first three years and RM1.42 million for the remaining three years.
In a separate announcement, Am ARA said the REIT was also acquiring a retail lot unit No S2.140B, 2nd Floor, The Summit in Subang USJ from SYF Trading Sdn Bhd for RM6.8 million cash. It comes with a guaranteed monthly rental income during a one-year period of RM68,929.73 totalling RM827,156.80.
In a statement on Sept 2, Am ARA REIT Managers Sdn Bhd, the REIT's manager, said FSBM had accepted an offer made by MTB. The office building was completed on Jan 31, 2002, with a lettable area of 112,151 square feet, of which 29,008 sq ft is either partly occupied by the vendor or is vacant.
AM ARA said the vendor would provide an assurance and guarantee that the rental income that the purchaser would receive from the untenanted area would be RM8.14 million for a period of six years, comprising the agreed rates of annual rent of RM1.29 million for the first three years and RM1.42 million for the remaining three years.
In a separate announcement, Am ARA said the REIT was also acquiring a retail lot unit No S2.140B, 2nd Floor, The Summit in Subang USJ from SYF Trading Sdn Bhd for RM6.8 million cash. It comes with a guaranteed monthly rental income during a one-year period of RM68,929.73 totalling RM827,156.80.
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