It's not me - Soilbuild Reit

Having followed the 2 facebook groups to remove manager of Sabana, one member mentioned that the cost paid to raise the proceeds through their rights was quite huge. Let's compare with industry practice again. This skill honed from years of working under a boss who keeps asking me why i want a raise every year and the need to compare with industry practice.

So the closest one to compare with Sabana would be Soilbuild, both being industrial reits, closest in market capitalization size and closest in rights issuance dates.

Soilbuild Reit's market cap = $662 million
Sabana Reit's market cap = $459 million
(Yahoo finance)

Soilbuild Reit's rights : September 2016
Sabana Reit's rights : December 2016

Soilbuild
Rights-related cost , millions= $0.395
As a percentage of proceeds raised = 0.2/ 59.4 = 0.34%

Sabana
As a percentage of proceeds raised = 4.2% 

4.2% vs 0.34%..... more than 12 times more costly....am i missing something here? I am unable to find the breakdown of the rights-related cost.

Soilbuild Rights

Sabana Rights