ESR, an Asia-Pacific-focused logistics real estate platform, boosted its indirect stake in Sabana Investment Partners Pte. Ltd. to about 93.8%.
Sabana Investment Partners owns the manager and property manager of Sabana Shari'ah Compliant Industrial REIT.
ESR acquired 51.0% of the entire issued and paid-up capital of Sabana Investment through its indirect wholly owned subsidiary InfinitySub Pte. Ltd. from Vibrant Group Ltd.
ESR also agreed to acquire about 9.9% of the total issued units of Sabana REIT through separate agreements. The deal will bring ESR's total issued units in Sabana REIT to about 21.4%.