KUALA LUMPUR Dec 19 Japanese real estate asset
manager Kenedix Inc will buy 15 percent of Malaysian
real estate investment trust AmanahRaya REIT for 86
million ringgit ($19.21 million), the pair said on Monday.
Kenedix will also buy 49 percent of AmanahRaya REIT's parent
for 5.1 million ringgit, they said in a joint statement.
AmanahRaya REIT said it expects the deals to spur growth in
its portfolio through acquisitions or asset enhancement.
The REIT manages 13 diversified properties in sectors
including hospitality, higher education, corporate office space,
industry and retail, with a total book value of over 1 billion
ringgit, the statement showed.
Kenedix managed about 1.6 trillion yen ($13.63 billion)
worth of Japanese real estate as of December 2015, according to
Nomura advised AmanahRaya on the deal.
($1 = 4.4770 ringgit)
($1 = 117.3700 yen)
(Reporting by Liz Lee; Editing by Christopher Cushing)