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ESR to acquire majority stake in Sabana REIT's manager

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ESR to acquire majority stake in Sabana REIT's manager

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%.