Sabana REIT has named Karen Lee as the chief executive officer (CEO) of its newly internalised manager, marking a key milestone in the trust’s transition.
Lee brings more than two decades of experience in the real estate investment trust (REIT) industry. She previously served as deputy CEO of the merged ESR REIT and was CEO of ARA LOGOS Logistics Trust prior to its merger with ESR.
Alongside her appointment, Sabana REIT has also announced Goo Li Ling as the chief financial officer (CFO) of the internal manager. Goo, who most recently held the role of managing director, finance for real estate funds at Keppel Fund Management until June this year, also brings 20 years of experience. Her past roles include a stint at Suntec REIT between 2004 and 2006.
The trust further strengthened its governance structure with the appointment of two new board directors: Havard Chi from Quartz and Bhavik Umesh Doshi from One Hill Capital, effective August 22.
These leadership changes follow Sabana REIT’s landmark move last year to internalise its management. On July 21, 2023, the REIT called for an extraordinary general meeting (EGM) to remove its external manager, and by August 7, unitholders voted in favour of the resolution to terminate Sabana Real Estate Investment Management (SREIM).
On August 5, 2024, the REIT confirmed that it had identified candidates for senior leadership positions and executed letters of intent ahead of the official appointments.
The latest leadership announcement underscores Sabana REIT’s commitment to establishing a fully internalised management structure to better align with unitholders’ interests.
