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Ascott Residence Trust Invests JPY10 4 billion to acquire four rental housing properties and first student accommodation property in Japan

Ascott Residence Trust (ART) will invest about JPY 10.4 billion[1] (S$125.0 million[2]) to acquire four rental housing properties and its first student accommodation property in Japan. The yield-accretive acquisitions are set to increase ART’s pro forma FY 2021 Distribution per Stapled Security by approximately 1.7%[3]. The average NOI yield[4] is expected to be about 4.0%. The five properties will be acquired on a turnkey basis from two different sellers on a willing buyer and willing seller basis. The transactions are expected to be completed between 1Q 2022 and 2Q 2023.

Ascott Establishes a New Student Accommodation Development Venture With Riyad Capital

CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) has established a development venture totalling US$150 million (S$204.8 million[1]) in committed equity to develop student accommodation assets in the USA. Named Student Accommodation Development Venture (SAVE), Ascott will manage the venture and hold a 20% stake in the joint venture while the remaining stake will be held by Riyad Capital. Riyad Capital is one of the largest institutional capital partners in the Middle East and an existing partner from Ascott’s network of lodging property owners. When fully deployed, the venture will boost Ascott’s funds under management (FUM)[2] by US$375 million (S$512 million).

Filippa Lagerbäck: «Ogni domenica mi viene la tremarella»

Filippa Lagerbäck: «Ogni domenica mi viene la tremarella»
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