Internalisation costs rise to $8.9 million for Sabana REIT, DPU falls 16.8% y-o-y

Sabana Industrial REIT’s 1HFY2024 results for the six months to June 30 had some good news, and some bad news.

First the bad news. Financing costs rose to 4.3% in 1HFY2024, from 3.89% h-o-h and y-o-y. In June, Sabana REIT’s manager refinanced a $93 million syndicated bank loan with a $100 million 4.15% bond that matures in 2029.