KUALA LUMPUR: AmanahRaya Real Estate Investment Trust (REIT) has completed its strategic acquisition of a private education asset in Glenmarie, Shah Alam for RM31.4 million.
The acquisition was conducted through AmanahRaya REIT's trustee Pacific Trustees Bhd m, furthering its ambition to expand its portfolio in the high-potential education sector at a prime location and income-generating assets.
The newly-acquired freehold property is currently leased to Tinta Pendidikan Sdn. Bhd, an education provider offering preschool, primary and secondary education.
The acquisition aligns with AmanahRaya REIT's strategic goal of securing resilient, recurring income sources while enhancing asset quality.
AmanahRaya Kenedix REIT Manager Sdn Bhd managing director Tunku Rozita Tunku Abdul Malek said the company is proud to have completed this acquisition, which represents its first major asset addition since 2018.
"With its strategic location and long-term lease, this property aligns with our commitment to generating steady, long-term returns for our unitholders.
"We believe this investment will strengthen our portfolio's earnings resilience and positively impact our financial performance in the years ahead," she said in a statement.
The manager has confirmed that the purchase does not impact on the total issued units or alter the substantial unitholders' holdings in the trust as the acquisition was entirely funded in cash.
The asset is expected to positively contribute to AmanahRaya REIT's earnings for the financial year ending Dec 31, 2025.