Yield is currently at 9.38% but if it drops further, it may reach 8% only. One saving grace is that their price-to-NAV is much lower at 0.72 which means we are able to buy it at 28% discount. This is due to the lower yield that is coming in. Gearing is at 43.9% and their secured NAV is at 60% of their trading price.
I think if they are able to retain their current tenants, it will be a success in itself as they would be able to maintain distribution at current levels. Therefore if it really happens, it is actually a good time to enter this REIT with organic potential for further growth (although it will come only in two year's time when economy recovers)
One more thing is about consolidation of REITs sector which was previously mentioned. Sabana REIT is a small REIT which is susceptible for take over by other REITs or private funds. Thus, with such deep discounts to NAV, I won't be surprised that someone will take notice and purchase these properties at a discount and wait for it to rise.
I have a very small portfolio on this and will consider entering only after I look at other counters.