ESR Cayman

The Australian acquisition marks ESR-REIT's maiden foray overseas.

Logistics assets in Australia are much in demand given the competition for the portfolio acquired by ESR and GIC

The portfolio has an initial yield of 4.5% and a weighted average lease expiry of 6.9 years

ESR-REIT plans acquisitions overseas supported by sponsor ESR Cayman, organic growth through AEIs at home

ESR-REIT refinances $320 million at lower costs, and looks forward to acquiring a portfolio of logistics assets from sponsor

ESR-REIT plans to go overseas for growth in countries in which ESR Cayman has a presence, such as Japan and Australia.

Sabana REIT's merger with ESR-REIT is off, as trust deed amendment did not get sufficient votes

The letter touched on issues such as the merger’s potential conflict of issues due to the similarity in both Sabana and ESR REITs’ portfolios.

The brokerage notes that ESR REIT boasts a diversified tenant base, or some 328 tenants across more than 15 sectors, which could in turn mitigate potential tenant defaults.

SINGAPORE (Nov 18): Sabana Shari’ah Compliant Industrial Real Estate Investment Trust’s distributions per unit in 3QFY2019 rose 1.3% y-o-y to 0.78 cent. For the nine months to Sept 30, however, DPU continued to show a decline to 2.15 cents, down 13% y