ESR enlarges its footprint in the Singapore REIT market with investments in Sabana REIT and its Manager
2019年5月22日 - 5:50PM
JCN Newswire
ESR, a leading Asia Pacific focused logistics real estate
platform, through its indirect wholly-owned subsidiary, InfinitySub
Pte. Ltd., has entered into a sale and purchase agreement ("SPA")
with Vibrant Group Limited to purchase 51.0% of the entire issued
and paid-up capital of Sabana Investment Partners Pte. Ltd.
("SIP"), an investment holding company that owns 100% equity
interest in Sabana Real Estate Investment Management Pte Ltd (the
manager of Sabana REIT) and Sabana Property Management Pte Ltd (the
property manager of Sabana REIT). Concurrently, ESR, through its
indirect wholly-owned subsidiary, e-Shang Infinity Cayman Limited,
also entered into separate SPAs to purchase approximately 9.9% of
the total issued units in Sabana REIT.
Following the transaction, ESR will indirectly hold approximately
93.8% equity interest in SIP and approximately 21.4% of the total
issued units in Sabana REIT.
Listed on the Mainboard of the Singapore Exchange Securities
Trading Limited since 26 November 2010, Sabana REIT has a
diversified property portfolio valued at S$880.2 million as at 31
March 2019, comprising 18 properties strategically located across
Singapore. Sabana REIT primarily invests in income-producing real
estate used for industrial purposes and real estate-related assets.
Its portfolio comprises quality industrial buildings in four main
industrial property segments: high-tech industrial park, warehouse
and logistics, chemical warehouse and logistics as well as general
industrial. As at 31 December 2018, Sabana REIT continues to be one
of the world's largest listed Shariah compliant REITs in terms of
total asset size.
Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR,
said, "The investment in Sabana REIT and its manager is in line
with ESR's long-term strategy of investing in a broad range of real
estate investment vehicles that would provide us with access to a
portfolio of industrial properties in various stages of the
property life cycle. The transaction would allow us to enhance our
income diversification and provide further opportunities for growth
in the future. With this acquisition, we have further established
our presence in Singapore and ESR is poised to leverage our
Singapore platform as a gateway for expansion into ASEAN, thus
expanding our Asia Pacific footprint linking North Asia, India and
Singapore to Australia."
About ESR
ESR is the largest Asia-Pacific focused logistics real estate
platform by gross floor area (GFA) and by value of the assets owned
directly and by the funds and investment vehicles it manages [1].
Co-founded by its senior management team and Warburg Pincus, ESR
and the funds and investment vehicles it manages are backed by some
of the world's preeminent investors including APG, SK Holdings,
JD.com, CLSA, Goldman Sachs, CPPIB, Ping An and Allianz Real
Estate. The ESR platform spans across the People's Republic of
China, Japan, South Korea, Singapore, Australia and India. As of 31
December 2018, the fair value of the properties directly held by
ESR and the assets under management with respect to the funds and
investment vehicles managed by ESR recorded approximately US$16
billion, and GFA of properties completed and under development as
well as GFA to be built on land held for future development stood
at over 12 million square metres in total.
MEDIA CONTACT
Antonia Au
Group Corporate Communications Director
+852 2376 9617
antonia.au@esr.com
Notes:
[1] JLL market report
Source: ESR REIT
Copyright 2019 JCN Newswire . All rights reserved.
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