Hektar REIT Acquires Campus for RM150 Million

News about Hektar REIT

Hektar REIT has announced the acquisition of Kolej Yayasan Saad Melaka's campus for RM150 million:

In a filing with Bursa Malaysia Secruities today, Hektar REIT said it has entered into a conditional sale and purchase agreement with KCSB for the proposed acquisition of a single, 1 ½, two and three-storey buildings which make up the administration, academic, residential and student facilities of KYSM.

It will fund the bulk of the purchase price through a combination of cash and issuance of 99,757,594 new units via a private placement, which will raise up to RM56.56 million for the company.

Hektar REIT
Price0.620 MYR
NAV1.204 MYR
Yield (4 quarters)12.90%
Gearing44.3%