Opinion & Features

Will Volare supplant Quarz as Sabana Reit’s key minority unitholder after its partial offer?

The deal may have implications for whether Sabana Reit is sold, or whether another attempt is made to merge it with ESR-Logos Reit

Ben Paul

Published Mon, Jan 30, 2023 · 05:50 AM

Mark to Market

UNITHOLDERS of Sabana Industrial Real Estate Investment Trust (Sabana Reit) who voted against its merger with ESR-Reit in December 2020 might be feeling rather pleased with themselves.

Since that controversial merger was scuppered, Sabana Reit has quietly delivered a total return of 49.2 per cent (distributions reinvested). During the same period, the iEdge S-Reit Index returned just 5.5 per cent.

Sabana Reit has also outpaced leading industrial real estate investment trusts (Reits) CapitaLand Ascendas Reit and Mapletree Industrial Trust – which chalked up total returns of 7.3 per cent and minus 4.5 per cent, respectively.