Asian logistics developer e-Shang Redwood is in advanced talks to buy Singapore-based Sabana Shariah Compliant Industrial REIT, according to Reuters.
As one of Asia’s biggest owners of logistics properties, with assets in China, Japan and South Korea, ESR wants to spearhead a consolidation among Singapore real estate trusts.
ESR is backed by private equity firm Warburg Pincus. In March ESR purchased a 5 percent stake in Sabana REIT, which has assets of about S$1 billion ($735 million) comprising warehouses, logistics and high-tech industrial properties.
