KUALA LUMPUR: Axis Real Investment Trust Bhd (Axis REIT) will acquire two parcels of industrial land in Seremban for RM26.5 million to enlarge its portfolio of properties. Both parcels have a gross built-up of about 192,677 sq ft and are located in the Nilai Industrial Estate in Negri Sembilan.

Axis said the proposed acquisition will provide an annual gross income of RM2.65 million and a net yield of 9% before financing cost. The properties are fully tenanted by Emerson Process Management Manufacturing (M) Sdn Bhd and K-Plastics Industry Sdn Bhd.

As at December, Axis REIT had 27 properties providing a net income of RM24.93 million.

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