Mixed commercial REIT CapitaLand Malaysia Trust is acquiring three freehold ready-built factories within the Nusajaya Tech Park in Iskandar Malaysia, Johor.
The fully-tenanted assets are being acquired for MYR27 million, which is in line with the independent market valuation of RM28.2 million, said the REIT.
These assets are two semi-detached factories and one detached factory, with mezzanine offices and guard posts.
With a collective built-up area of 74,142 square feet, the assets are fully leased to two tenants in the optics and medical sectors, the REIT disclosed.
The REIT intends to fund the acquisition with debt.
This proposed acquisition is expected to be completed by the fourth quarter of 2024.
CapitaLand Malaysia Trust was last done on the Bursa Malaysia at MYR0.61.