Sunway Real Estate Investment Trust (Sunway REIT) (5176) has bought The Putra Place in a public auction for RM513-95 million, confirming a Business Times report yesterday- Sunway REIT said the deal will provide geographical diversification and enlarge its portfolio of properties- Sunway REIT Management Sdn Bhd, the manager for Sunway REIT, is planning a major renovation of the property under a turnaround exercise- "Upon completion of this turnaround exercise, the manager believes that the property will enjoy upside on capital appreciation as well as improved yield," it said-...
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