KUALA LUMPUR: AmanahRaya Real Estate Invetment Trust (REIT) has completed the acquisition of a private education asset in Glenmarie, Shah Alam, for RM31.4mil.

The newly acquired freehold property is currently leased to Tinta Pendidikan Sdn. Bhd (PSB), an education provider offering preschool, primary and secondary education.

The REIT said the property’s 15-year triple net lease agreement ensures a stable and attractive income stream, supported by an entry triple net yield of 6.20% with built-in, double-digit rental revisions every three years.

“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,” said AmanahRaya Kenedix REIT Manager Sdn Bhd managing director Tunku Rozita Tunku Abdul Malek in a statement.

She added 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.