Sabana REIT's property near Serangoon, New Tech Park. (Photo: REITsWeek)

A wholly-owned subsidiary of Warburg Pincus-linked ESR Cayman Limited has proposed to acquire a controlling stake in the shareholder of Sabana REIT’s manager, which paves the way for further consolidation in the Singapore REITs sector.

The subsidiary, InfinitySub, is proposing to acquire a controlling stake in Blackwood Investments, which is in turn a legal and beneficial owner of 45 ordinary shares in Sabana Investment Partners - the manager of Sabana REIT.

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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.