Sabana REIT property at 23 Serangoon North Avenue 5. (Photo: REITsWeek)

In a move that has been cheered by as investors, the manager of Sabana REIT has opted not to receive a divestment fee in the disposal of a three-storey industrial property in the northern part of Singapore.

The REIT announced on 28 February that it has entered a conditional sale and purchase to divest 6 Woodlands Loop for SGD13.8 million (USD10.4 million).

The manager of Sabana REIT would have been entitled to a divestment fee of 0.5% on the sale consideration, which translates to approximately SGD69,000.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.