ascott reit
Ascott REIT Acquires the DoubleTree by Hilton Times Square Hotel for $106 Million in 3rd NYC Acquisition
Ascott Residence Trust | May 31, 2017
Singapore, 31 May 2017 – Ascott Residence Trust (Ascott Reit) is adding another prime property to its global portfolio by acquiring the 224-unit DoubleTree by Hilton Hotel New York – Times Square South for US$106 million (S$148.4 million1). The freehold property is located in Midtown Manhattan near Times Square, one of the most visited locations in the world, with more than 40 million visitors each year. The accretive acquisition at an EBITDA yield of 6.0% is expected to increase Ascott Reit's pro forma distribution income in FY 2016 by US$0.9 million (S$1.2 million1), translating to a rise in distribution per unit from 7.23...
Ascott Reit Acquires 411-key Element New York Times Square West for $163.5 Million
Ascott Residence Trust | July 2, 2015
Singapore, 2 July 2015 – Ascott Residence Trust (Ascott Reit) is expanding its footprint to the United States of America (U.S.) by acquiring the 411-key Element New York Times Square West hotel located in Midtown Manhattan for USD163.5 million (approximately S$220.7 million)(1). The accretive acquisition at an EBITDA yield of 6.2% is expected to increase Ascott Reit's distribution income in FY 2014 by USD0.8 million, translating to a rise in distribution per unit from 8.44 cents (2) to 8.51 cents on a pro forma basis. This acquisition comes hot on the heels of Ascott Reit's purchase of three quality serviced residences and four rental...
