Sabana REIT

Sabana REIT: 3Q13 DPU rose 1.4% y/y to 2.38¢, while NPI rose 4.6% to $20m mainly due to the acquisition of the high-tech industrial building at 508 Chai Chee Lane, increasing its total portfolio gfa to 4,485,755 sf (+7.9%). Portfolio occupancy is at 100% with weighted average lease to expiry of 1.4 years, while aggregate leverage is at 37.5% with weighted average tenure of 2.1 years at an average financing cost of 4.0%. NAV per unit of $1.06. At $1.09, Sabana trades at an annualised 3Q yield of 8.67%.