Sunway REIT is announcing the acquisition of a freehold industrial property in Petaling Jaya for RM60.05 million:

The asset includes a double-storey building and a five-storey building with a total gross floor area of 497,487 sq ft, said a statement issued by Sunway REIT’s manager, Sunway REIT Management Sdn Bhd.

The acquisition will be fully funded by Sunway REIT’s existing debt programme, with its gearing ratio expected to increase from 37.2% as at Dec 31, 2021 to 37.6% upon completion of the exercise, the statement said.