18 Gul Drive, a property of Sabana REIT. (Photo: Google Maps)

Sabana REIT has recorded negative rental reversions on each of the three master leases recently arranged with subsidiaries of its sponsor.

The negative reversions were revealed in response to a regulatory query from the Singapore Exchange (SGX), which came in on 31 October.

Sabana REIT first announced on 26 October that it had secured new master leases on its properties at 51 Penjuru Road, 33 & 35 Penjuru Lane, and 18 Gul Drive.

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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.