Soilbuild REIT's property at Pioneer Sector 1. (Photo: Google Maps)

Soilbuild REIT has taken over possession of a property at Pioneer Sector 1 that was previously occupied by a distressed tenant, NK Ingredients Pte Ltd.

The tenant is a manufacturer of lanolin and its derivatives, and has had issues settling its rent on the property with the REIT as early as September 2017.

Related: Soilbuild REIT begins search for back-up tenant at Pioneer Sector 1

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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.