Sabana's Sponsor Sell Stake in Trust, Manager to ESR

News about ESR-REIT

Sabana REIT sponsor, Vibrant Group, is entering into a transaction to sell both its 51% stake in the trust manager and its 6.51% of the trust itself to vehicles owned by ESR REIT. The total transaction, representing S$62.2 million, will allow the seller to repay debt, while the buyer is strengthening its position on Singapore's industrial REITs after having absorbed Viva Industrial Trust last year.