---
title: S-REITs - Week 49 - 2023
description: Get the latest updates on the performance and news of various S-REITs in Week 49 of 2023. Find out about Manulife US REIT's EGM, Elite Commercial Trust's portfolio valuation updates, Sabana REIT's response to the SGIC Letter, Sasseur REIT's loan extension agreement, and Keppel DC REIT's issuance of Floating Rate Notes. Stay informed with REITsavvy's comprehensive recap.
---

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[S-REIT Weekly Recap](https://reitsavvy.com/insights/tag/s-reit-weekly-recap), [2023](https://reitsavvy.com/insights/tag/2023)

# S-REITs - Week 49 - 2023

[By- REITsavvy Team,](https://reitsavvy.com/insights/author/reitsavvy-team)

Announcement by Manulife US REIT, Elite Commercial Trust, Sabana REIT, Sasseur Real Estate Investment Trust, Keppel DC REIT

**S-REITs Recap - Week 49**

**4 Dec - 10 Dec 2023**

| **Manulife US REIT** |
| --- |
| **( YTD: -76.67% )** **\*Action required by unit holders\*** |
| More queries to MUST before 14 Dec 2023, EGM. Before the MUST EGM on December 14, 2023, Unitholders and the Securities Investors Association (SIAS) posed additional questions for clear further doubts and clarification. Find out more on the questions and answer [here](https://investor.manulifeusreit.sg/newsroom/20231208_120958_BTOU_N18Z7WDGO4OY71P5.1.pdf) --- Kenny talks about MUST on Money FM.   Explore further insights from our perspectives to gain a deeper understanding of the decision. [https://reitsavvy.com/insights/qna-with-manulife-recapitalisation-plan](https://reitsavvy.com/insights/qna-with-manulife-recapitalisation-plan) |

| **Elite Commercial Trust** |
| --- |
| **( YTD: -39.36% )** |
| Elite Commercial REIT Provides Portfolio Valuation Updates After the update of valuation, the REIT gearing ratio is now at 49.6%. However, it is still within the limit. The manager is optimistic as the REIT income stream is supported by a sovereign tenant with an AA credit rating and a resilient primary occupant that consistently depends on maintaining a physical presence in Elite REIT's assets to deliver services across economic cycles. For further information, please click [here](https://investor.elitecreit.com/newsroom/20231205_075532_MXNU_B1Q5XF8U6HNS90KL.1.pdf) |

| **Sabana REIT** |
| --- |
| **( YTD: -6.90% )** |
| Receipt of the letter from the Sabana Growth Internalisation Committee on December 5, 2023, by the trustee (referred to as the "SGIC Letter"). Few points extracted - The Trustee notes the contents of the SGIC Letter. The Trustee is seeking legal advice with regard to its contents and will respond at an appropriate time. The Trustee is also intending to provide an update as to progress of the various workstreams being undertaken in connection with the internalisation of the REIT management function of Sabana Industrial REIT in a separate announcement expected to be made later in December 2023. - In the meantime, the Trustee disagrees with any suggestion of any wrongdoing or delay on its part. - The Trustee assumes no responsibility for any of the contents of the SGIC Letter, including the accuracy, completeness or correctness of any of the information statements or opinions made or reports contained in the SGIC Letter. The views expressed in the SGIC Letter should not be construed in any way as representing the views of the Trustee. For further information, please click [here](https://sabana.listedcompany.com/newsroom/20231206_195534_M1GU_YA71F2P46O4S5RXZ.1.pdf) |

| **Sasseur Real Estate Investment Trust** |
| --- |
| **( YTD: -10.60% )** |
| EXTENSION OF SPONSOR LOAN MATURITY On December 7, 2023, the Sponsor and Sasseur REIT concluded a loan extension agreement. This agreement extends the maturity of the Sponsor Loan for an additional year, from March 2024 to March 2025. For further information, please click [here](https://investor.sasseurreit.com/newsroom/20231207_172029_CRPU_8J5RSHJPZLX2LFLR.1.pdf) |

| **Keppel DC REIT** |
| --- |
| **( YTD: +11.30% )** |
| Issues S$90,000,000 Floating Rate Notes due 2026 For further information, please click [here](https://wpcms.kepcorp.com/wm/cms-site/kcl/file/media/media-releases-sgx/2023/Dec/08-dec-kdcreit/kdc-reit-series-005-closing-announcement.pdf) |

| **Catch Kenny Loh on Money FM 89.3** |
| --- |
| Listen to Kenny's recent Podcast on Money FM 89.3 on 5 Dec 2023.   |

 

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