Axis-REIT sells Port Klang building

Posted on | January 17, 2011

By BUSINESS TIMES

AXIS-REIT TO DISPOSE AXIS NORTH LC1 FOR RM14.5 MIL

Axis Reit Managers Bhd (ARMB) and Axis Real Estate Investment Trust (Axis-Reit) has proposed to dispose Axis North Port LC1 for RM14.5 million to Freight Management (M) Sdn Bhd.

Located in Port Klang, Axis North Port LC1 is an industrial complex comprising a single-storey detached warehouse with a double-storey office annexe, a double-storey amenities building and other ancillary buildings.

ARMB confirmed that OSK Trustees Bhd, the trustee for Axis-Reit, has entered into a sale and purchase agreement for the disposal of Axis North Port LC1.

The proposal is in line with meeting the objective of Axis-Reit, it said in a statement.

- AXIS REIT

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