Pavilion REIT to Purchase Pavilion Bukit Jalil Mall for RM2.20 Billion

News about Pavilion REIT

Pavilion REIT is announcing the acquisition of the recently completed Pavilion Bukit Jalil for RM2.20 billion:

With a net lettable area of 1.8 million square feet, PBJ Mall has rejuvenated Bukit Jalil into a vibrant destination for business, shopping, dining, leisure and entertainment on a 28-acre freehold plot.

The mall houses five levels of retail space, two levels of basement parking with 4,800 car park bays and a Piazza (centralized green area) - with all these integrated seamlessly as part of the 50-acre Bukit Jalil City integrated lifestyle development comprising 3 storey shop offices and residences (The Park and The Park 2).

To fund the operation, the trust is also undertaking a private placement of up to RM1.27 billion.

Pavilion REIT
Price1.370 MYR
NAV1.237 MYR
Yield (4 quarters)4.86%
Gearing35.1%