AME-REIT is acquiring three parcels of vacant freehold industrial land measuring a combined 3.59 ha at i-Park @ Senai Airport City, Johor, for RM50.2mil, marking its first third-party acquisition since its listing.

In a statement yesterday, AME-REIT said RHB Trustees Bhd, acting on its behalf, had entered into a sale and purchase agreement for the proposed acquisition.

AME-REIT, however, did not disclose the identity of the vendor from whom it is acquiring the land. The transaction marks AME-REIT’s first third-party acquisition since its listing, following RM289.5mil in completed asset acquisitions from its sponsor, AME Elite Consortium Bhd.

Chan Wai Leo, chief executive officer and executive director of I REIT Managers Sdn Bhd, the management company of AME-REIT, said expanding the REIT’s footprint in i-Park @ Senai Airport City would enable it to leverage its established expertise and execution capabilities to accelerate its expansion.