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Elevator Pitch
I like Singapore-listed industrial REIT Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (OTCPK:SBBSF) [SSREIT:SP], or Sabana REIT, for its upside potential as both a turnaround and event-driven play. Sabana's valuation is undemanding at 0.79 times P/B and a forward FY2019 5.9% distribution yield.
But Sabana REIT's turnaround plans will take time, with a major asset enhancement initiative for its New Tech Park property to be only fully completed by 4Q2020. In the interim,