KUALA LUMPUR (Sept 7): Amanahraya Real Estate Investment Trust (REIT), which has suspended its trading since yesterday afternoon pending a material announcement, has inked a deal for the purchase of the Grade A Vista Tower office building in Kuala Lumpur for RM430 million, according to a statement from the REIT's major unitholder KDA Capital Malaysia Sdn Bhd.

At RM430 million, the estimated pricing for the office block with 550,000 sq ft of net lettable area is being sold for an estimated RM781.81 psf.

The sale of Vista Tower is the final component within the The Intermark integrated development in Jalan Tun Razak to be sold by BlackRock Inc. The other components — Integra Tower was sold to Kumpulan Wang Persaraan (Diperbadankan), Double Tree by Hilton to Royal Group and the Intermark Mall to Pavilion REIT. BlackRock raked in RM1.597 billion from the sale of DoubleTree by Hilton, the Intermark Mall and Integra Tower.

The life of the fund which holds the asset comes to an end this year. The sale will mark the exit of BlackRock from Malaysia.

As at June 30, 2017, AmanahRaya REIT's total fair value of its investment portfolio is at RM986.4 million. — theedgemarkets.com

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