Shares & Derivatives
Comparison of industrial Reits Part 1
By Sillyinvestor  •  October 23, 2014
I will be comparing Sabana and Cambridge Reit in this post. Both are smaller reits with weaker sponsors. Sabana and Cambridge has similar Master Lease to Multi-tenant mix. Sabana is 59% to 41% Cambridge is 56.5% to 43.5% Theoretically, Sabana with its higher Master Tenant Lease, should have a lower operating expenses. But given the difference in insignificant, lets not be too harsh. Cambridge's NPI to revenue is 78% Sabana's NPI to revenue is 72% Cambridge managed "renewed approx 300,000 sq ft of leases in 3Q2014, amounting to 1.6 million sq ft of leases YTD2014 with positive rental reversion", I cannot find similar statements in Sabana's presentation. Maple is enjoying positive rental reversion too, although it might not be in the same league. Sabana's sub-tenants have been in a increasing trend, although it is scant console to anyone with falling distribution, but it provide hope. That hope ......
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By Sillyinvestor
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