UOA REIT to Buy Office Tower From Sponsor

News about UOA REIT

UOA REIT is announcing the acquisition of UOA Corporate Tower (in Bangsar South, Malaysia) from its sponsor UOA Development Bhd. The 38 storey office tower, purchased at a price of RM700 million, is currently 93% occupied. It's a 99 year leasehold property with 86 years left on the lease.

Consequently, the trust is also launching a private placement of up to RM282 million to help finance the operation.

UOA REIT
Price1.210 MYR
NAV1.674 MYR
Yield (4 quarters)7.31%
Gearing26.3%