Ascott Residence Trust reports 52% lower DPS of 1 99 S cents for H2 businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
ASCOTT RESIDENCE TRUST POSTS DISTRIBUTABLE INCOME OF S$61.7 MILLION IN 2H 2020 AND S$94.2 MILLION IN FY 2020
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SINGAPORE -
January 27th, 2021 - Ascott Residence Trust (ART) posted a distributable income of S$61.7 million in 2H 2020 and S$94.2 million in FY 2020 amidst the COVID-19 pandemic. The distributable income for 2H 2020 is a 32% decline compared to 2H 2019. To mitigate the impact of COVID-19, replace loss income from divested assets and to share past divestment gains with Stapled Securityholders, a one-off partial divestment gain of S$40.0 million will be distributed to Stapled Securityholders. ART also released the S$5.0 million of distributable income which was retained in 1H 2020. Distribution per Stapled Security (DPS) for 2H 2020 is 1.99 cents, a 52% decrease compared to 4.18 cents in 2H 2019.
ASCOTT RESIDENCE TRUST FORAYS INTO THE STUDENT ACCOMMODATION ASSET CLASS WITH FIRST ACQUISITION IN THE USA FOR US$95 MILLION
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SINGAPORE -
January 27th, 2021 - Ascott Residence Trust (ART) will foray into the student accommodation asset class with its first acquisition in the United States of America (USA) for US$95 million (S$126.3 million). The purpose-built student accommodation asset, Signature West Midtown, is a freehold property with 525 beds across 183 units located in the heart of Atlanta, Georgia. The transaction is expected to be completed by end 1Q 2021. In conjunction with the acquisition, ART will expand its investment mandate to include student accommodation. The accretive acquisition will increase the pro forma FY 2020 Distribution per Stapled Security (DPS) by approximately 4.4%.
Ascott Residence Trust (ART) has obtained a S$50 million five year green loan from DBS Bank Ltd (DBS), making ART the first hospitality trust in Singapore to secure a green loan. Proceeds from the green loan will be used to finance ART s maiden development project and coliving property, lyf one-north Singapore.
SINGAPORE (THE BUSINESS TIMES) - Ascott Residence Trust (ART) has obtained a five-year $50 million green loan from DBS to finance its maiden development project: lyf one-north Singapore.
The 324-unit co-living property was one of the 15 ART properties that attained green certifications in 2020, bringing the stapled group s total number of green properties to 21, the stapled group s managers said in a bourse filing on Thursday (Jan 14).
lyf one-north is slated for completion in the fourth quarter of 2021. It will be fitted with energy-efficient and smart building features, including an energy monitoring system, motion sensors and energy-efficient lighting.
Beh Siew Kim, chief executive of ART s managers, said: Being the first hospitality trust in Singapore to secure a green loan reinforces ART s commitment to do our part for the environment and the communities we operate in.