Sabana REIT's crown jewel, New Tech Park. (Photo: REITsWeek)Sabana REIT's crown jewel, New Tech Park. (Photo: REITsWeek)

An institutional investor has described Volare Group’s cash offer for Sabana Industrial REIT (Sabana REIT) units as ‘attractive’ and has seemingly endorsed the move.

Sabana REIT disclosed on 20 January that Volare Group AG has made a voluntary conditional cash partial offer for 10% of the issued units in Sabana REIT.

The partial offer is made at SGD0.465 in cash and will be extended to all unitholders.

Each unitholder will be entitled to accept the partial offer on the basis of 100 units for every 1,000 units.

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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.