In a statement to the exchange on Tuesday April 27, Atrium said its revenue was up 23% to RM3.54 million from RM2.88 million.
"Barring any unforeseen circumstances, the manager expects all the properties of the Atrium REIT to maintain its 100% occupancy rates for 2010.
"The 100% occupancy rates of the properties are due to their competitive rental rates, strategic locations, and excellent facilities," said Atrium REIT whose portfolio comprises mainly industrial assets including warehouses, and offices within Selangor.
According to Atrium REIT's website, its four freehold properties, of which, two are located within Shah Alam, and one each in Puchong and Rawang, have a combined market value of RM161.6 million, based on the latest valuation exercise in December 2008.
Atrium's statement to the exchange indicated that leases for Atrium Shah Alam 1, and Atrium Puchong would expire on December 31, and September 18 this year respectively.
The property trust's manager Atrium Reit Managers Sdn. Bhd is in talks with existing tenants of both properties to renew the leases.
Atrium Shah Alam 1 is occupied by Exel Properties (M) Sdn Bhd, while Atrium Puchong is accommodating Danzasmal Domestic Logistics Services Sdn Bhd. Atrium REIT said the renewals were expected to be secured by the second the quarter of this year,
“The manager will continue to actively identify good assets for new acquisition to improve the yield and to continue focusing on the strategy of having the investment properties leased long-term to reputable tenants,” it said.