Singapore, Hong Kong, May 22, 2019 - (ACN Newswire) - ESR, a leading Asia Pacific focused logistics real estate
platform, through its indirect wholly-owned subsidiary InfinitySub Pte. Ltd., has entered into a sale and purchase
agreement ("SPA") with Vibrant Group Limited to purchase 51.0% of the entire issued and paid-up capital of Sabana
Investment Partners Pte. Ltd. ("SIP"), an investment holding company that owns 100% equity interest in Sabana Real
Estate Investment Management Pte Ltd (the manager of Sabana REIT) and Sabana Property Management Pte Ltd (the property
manager of Sabana REIT). Concurrently, ESR, through its indirect wholly-owned subsidiary, e-Shang Infinity Cayman
Limited, also entered into separate SPAs to purchase approximately 9.9% of the total issued units in Sabana REIT.
Following the transaction, ESR will indirectly hold approximately 93.8% equity interest in SIP and approximately 21.4%
of the total issued units in Sabana REIT.
Listed on the Mainboard of the Singapore Exchange since 26 November 2010, Sabana REIT has a diversified property
portfolio valued at S$880.2 million as at 31 March 2019, comprising 18 properties strategically located across
Singapore. Sabana REIT primarily invests in income-producing real estate used for industrial purposes and real
estate-related assets. Its portfolio comprises quality industrial buildings in four main industrial property segments:
high-tech industrial park, warehouse and logistics, chemical warehouse and logistics as well as general industrial. As
at 31 December 2018, Sabana REIT continues to be one of the world's largest listed Shariah compliant REITs in terms of
total asset size.
Jeffrey Shen and Stuart Gibson, co-founders and co-CEOs of ESR, said, "The investment in Sabana REIT and its manager is
in line with ESR's long-term strategy of investing in a broad range of real estate investment vehicles that would
provide us with access to a portfolio of industrial properties in various stages of the property life cycle. The
transaction would allow us to enhance our income diversification and provide further opportunities for growth in the
future. With this acquisition, we have further established our presence in Singapore and ESR is poised to leverage our
Singapore platform as a gateway for expansion into ASEAN, thus expanding our Asia Pacific footprint linking North Asia,
India and Singapore to Australia."