However, it warned that “perceived uncertainties” as to how the internalisation will be concluded, including “publicly expressed contrary views by various parties”, could lead to difficulties in securing suitable candidates for the new internalised manager.
HSBC Institutional Trust, the trustee of Sabana Industrial REIT, says it has established a new wholly-owned entity for the purposes of acting as the new internalised manager.
In a June 12 statement, the trustee adds that it is progressing the remaining outstanding workstreams which include identifying and engaging with a list of qualified candidates for the new internalised manager, formulating a funding and operational model as well as progressing work on the application for a capital markets services license for the new internalised manager.
