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.