Sabana Industrial Real Estate Investment Trust (REIT) reported a decline in its occupancy rate for the first quarter of 2024 (1Q24) to 83% from 91.2% in the previous quarter (4Q23) due to the repossession of 33 & 35 Penjuru Lane.
Sabana Industrial Real Estate Investment Trust said its occupancy rate for the first quarter of 2024 dropped to 83% from 91.2% the previous quarter .
Recently, the court dismissed counterclaims by the ex-tenant of 33 & 35 Penjuru Lane against the REIT, allowing Sabana to proceed with its claims for outstanding rent and other payments due under the lease.
Sabana Industrial REIT Occupancy Rate Decline Repossession Penjuru Lane
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