KUALA LUMPUR (Nov 19): Axis Real Estate Investment Trust (Axis REIT) is acquiring three properties in Johor in a related-party transaction for RM28.2 million cash.

In a bourse filing, the REIT said its trustee, RHB Trustees Bhd has entered into sale and purchase agreements with a real estate company Axis AME IP Sdn Bhd (AAIP) for the proposed acquisition.