Sabana REIT to acquire industrial building at Paya Lebar Central for $34.5 mil

SINGAPORE (Dec 15): The managers of Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana REIT) is planning the acquisition a HDB leasehold property in the commercial hub of Paya Lebar Central for $34.5 million.

The acquisition is to be funded by a combination of equity and borrowings.

Located at 107 Eunos Avenue 3, the property is a newly completed six-storey light industrial building with a basement carpark and is in close proximity to Paya Lebar and Eunos MRT stations. It has a gross floor area of 133,946 sf. The land area of the site on which the property is located is 53,601 sf. The property has a 30-year tenure starting Jan 1 2011, with a remaining tenure of 24 years.

---

Related Stories

• Q&M Dental to acquire Veritas Dental for $800,000
• Parkway Life REIT acquires nursing home in Osaka for $20.7 mil
• Singlife becomes fully owned subsidiary of Sumitomo Life following regulatory approval

---