SINGAPORE (Apr 16): In a Singapore Exchange filing, e-Shang Redwood (ESR), a pan-Asia logistics real estate developer, which is the sponsor and major shareholder of ESR-REIT, announced that it held a 7.05% stake in Sabana Shariah Compliant Industrial REIT as at April 6. Sabana REIT’s net asset value as at Dec 31 was 53 cents and the real estate investment trust is one of a handful of REITs trading below their NAV. Asked for his view on ESR’s increasing its stake, Donald Han, CEO of Sabana REIT’s manager, says: “It’s good value to buy at 42 cents when the NAV is [53] cents.”

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