ESR-REIT's UE BizHub EAST. (Photo: REITsWeek)ESR-REIT's UE BizHub EAST. (Photo: REITsWeek)

Quarz Capital and Black Crane Capital have thrown down the gauntlet on the manager of Sabana REIT, calling for its management and directors to resign if the proposed merger with ESR-REIT falls through.

The move will make way for professionals who can better develop, and execute alternative strategies to grow Sabana REIT, said the investment firms.

Quarz and Black Crane are currently leading a minority unitholders revolt to oppose the proposed merger between ESR-REIT and Sabana REIT.

Related: ESR-REIT, Sabana REIT to form Singapore’s 5th largest industrial REIT via merger

Dear subscribers, please login to continue reading this article.

Don’t miss out on information beyond mainstream media reports that may impact your investments.
Login or sign-up for a free 25-day trial here. Why subscribe?

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.