CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) is acquiring its first lyf-branded coliving property in Sydney, Australia.
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CapitaLand Investment Limited’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) is acquiring its first lyf-branded coliving property in Sydney, Australia. The acquisition of the freehold asset is made via the Ascott Serviced Residence Global Fund (ASRGF)1, Ascott’s private equity fund with Qatar Investment Authority. This is ASRGF’s third investment in 2022, following the acquisition of Somerset Hangzhou Bay Ningbo and Citadines Canal Amsterdam in March 2022. To date, ASRGF has invested in 12 properties for close to US$500 million. ASRGF has since divested its first property at returns that outperformed its expected underwriting.