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

Warburg Pincus-backed ESR Cayman has further strengthened its control over Sabana REIT by acquiring more units in the REIT, and a stake in Sabana Investment Partners.

The sponsor of Sabana REIT, Vibrant Group, has entered into a sale and purchase agreement for a 51.0% stake in Sabana Investment Partners to InfinitySub, a subsidiary of ESR Cayman.

A subsidiary of the sponsor, Singapore Enterprises Private Limited (SEPL), has also entered into a separate sale and purchase agreement to sell 68,596,763 units in Sabana REIT to E-Shang Infinity - another subsidiary of ESR Cayman.

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By Shariffa Al-Habshee

Shariffa joined REITsWeek in 2017, and monitors Asia-Pacific REITs for the publication.