His estimates showed that the merger will add about 9.2 per cent to Sabana's estimated FY20 distribution per unit , driven by the trust benefiting from synergies.
The potential marriage with ESR-Reit will also allow Sabana to"finally" unlock the true value of its portfolio, DBS noted. Sabana has historically traded at a discount to net asset value , with the five-year mean discount to NAV at about 26.4 per cent. "Post-merger, the enlarged Reit's P/NAV could re-rate closer to its larger peers. This is especially so considering that the enlarged Reit will be a prime candidate for inclusion into the FTSE EPRA NAREIT Index, which could boost the liquidity and visibility of the Reit in the future," he added.
Based on DBS's FY21 estimates, the deal is 3.4 per cent accretive to ESR-Reit's DPU and 18.7 per cent accretive to Sabana's DPU, fuelled by the lower overall cost of debt and higher gearing of about 42.5 per cent.
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Industrial property landlords ESR-Reit and Sabana Reit propose mergerSINGAPORE (THE BUSINESS TIMES) - A union may be on the cards for ESR-Reit and Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit), the latest in a string of consolidations in the Singapore real estate investment trust (S-Reit) universe.. Read more at straitstimes.com.
แหล่ง: The Straits Times - 🏆 8. / 63 อ่านเพิ่มเติม »
ESR-Reit and Sabana Reit propose mergerA UNION may be on the cards for ESR-Reit and Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (Sabana Reit), the latest in a string of consolidations in the Singapore real estate investment trust (S-Reit) universe. Read more at The Business Times.
แหล่ง: BusinessTimes - 🏆 15. / 51 อ่านเพิ่มเติม »
Second time's the charm as ESR-Reit, Sabana Reit revive merger proposalESR-REIT and Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) are taking another crack at a merger after earlier talks in 2017 fell through, seeking to build an enlarged entity to stave off headwinds in a post-Covid world. Read more at The Business Times.
แหล่ง: BusinessTimes - 🏆 15. / 51 อ่านเพิ่มเติม »
Singapore real estate investment trusts ESR and Sabana propose to mergeSINGAPORE: Singapore's ESR-REIT has agreed to buy Sabana Shari’ah Compliant Industrial REIT in a deal that will create the country's fifth-largest ...
แหล่ง: ChannelNewsAsia - 🏆 6. / 66 อ่านเพิ่มเติม »