AmanahRaya Real Estate Investment Trust (AmanahRaya REIT) has finalized the acquisition of a private education asset in Glenmarie, Shah Alam, for RM31.4 million. Managed by Pacific Trustees Berhad, this freehold property marks AmanahRaya REIT’s strategic push into high-potential, income-generating assets within the education sector.
Key Details of the Acquisition:
- Tenant: Tinta Pendidikan Sdn. Bhd. (TPSB), a leading education provider.
- Lease: A 15-year triple net lease with TPSB, offering a 6.20% entry yield and double-digit rental revisions every three years.
- Funding: Fully funded in cash, with no impact on issued units or substantial unitholders.
Located in the well-connected Glenmarie commercial hub, the property benefits from excellent accessibility, including proximity to major highways and the Glenmarie LRT station.
Strategic Implications:
This is AmanahRaya REIT’s first major acquisition since 2018, underscoring its focus on stable, long-term income streams. YM Tunku Rozita Binti Tunku Abdul Malek, Managing Director of AmanahRaya Kenedix REIT Manager Sdn. Bhd., noted that the investment supports the Trust’s goal of enhancing portfolio resilience and delivering consistent returns to unitholders.
The property will contribute positively to the Trust’s earnings starting in FY2025 and aligns with its strategy to expand into key sectors, ensuring sustainable growth and high-quality assets.
For more information, visit AmanahRaya REIT’s official site.