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Sign in Sign up for a FREE subscriptionESR-REIT and Sabana REIT propose $3b merger
Singapore-based ESR-REIT has agreed to buy Sabana Shari’ah Compliant Industrial REIT in a deal that will create the country's fifth-largest industrial real estate investment trust by assets.
Each Sabana unitholder will receive 94 new ESR-REIT units for every 100 Sabana Units held. The merged entity will have total assets worth about S$4.1 billion ($3.02 billion).
“The merger will be transformational for Sabana REIT, accelerating our growth and propelling us immediately to be amongst the largest industrial REITs in Singapore. The enhanced scale will raise our visibility and enable us to be more competitive within the industrial S-REIT space, while the larger asset and tenant base will put us in a stronger position to undertake initiatives to improve and rejuvenate the portfolio at lower costs with minimised execution risks. With ESR as a developer-sponsor, the Enlarged REIT will also have access to a pipeline of assets worth over US$22 billion in a market where qual
