Excluding the previously master-leased Penjuru Lane properties, the REIT’s porfolio occupancy would have remained stable at 91.3%.
Sabana Industrial REIT (SGX:M1GU
) has reported a portfolio occupancy of 83.0% for the 1QFY2024 ended March 31, down from 91.2% in 4QFY2023.
The reduced portfolio occupancy is due to its reposession of the premises at 33 and 35 Penjuru Lane on March 8 after a court ruling in favour of the REIT against former tenant Kleio.
