Quill Capita buys two properties for RM215mil

Quill Capita buys two properties for RM215mil

KUALA LUMPUR: Quill Capita Management Sdn Bhd (QCM), the manager of Quill Capita Trust (QCT) - a commercial real estate investment trust (REIT) listed on Bursa Malaysia - has acquired two properties for RM215mil.

They are Wisma Technip and Plaza Mont' Kiara which are both in Kuala Lumpur.

The exercise is targeted for completion by the fourth quarter this year.

QCM also proposed placement of new units in QCT to raise up to RM377.2mil to finance the proposed acquisition and other requirements, the company said in a press release yesterday.


Plaza Mont' Kiara
The proposed placement would increase the fund size from 238.7 million units to up to 490.1 million units.

“Within six months of listing, we are adding to our portfolio two yield accretive assets with high occupancy and high tenancies,'' QCM chief executive officer Chan Say Cheong said.

“This is in line with our stated growth strategy and we are on track to reaching our target of doubling QCT's asset size to RM560mil by year-end,'' he added.

Wisma Technip is a 100% occupied office building with a net lettable area of 233,021 sq ft.

The 73,408 sq ft of lettable commercial space at Plaza Mont' Kiara leased to food and beverage and retail tenants enjoys 90% occupancy.

Currently, the properties under QCT are four buildings in Cyberjaya.