hotel divestment
CapitaLand Ascott Trust Divests Three Hotels in Japan for JPY10.7 Billion ($69.9M US)
December 18, 2023
Transaction is part of CLAS’ active portfolio reconstitution strategy to deliver sustainable returns to Stapled Securityholders Singapore, 18 December 2023 – CapitaLand Ascott Trust (CLAS) is divesting three hotels in Osaka, Japan to an unrelated third party for a total of JPY10.7 billion (S$99.8 million[1]). The three properties are Hotel WBF Honmachi, Hotel WBF Kitasemba East and Hotel WBF Kitasemba West. The three properties will be divested at about 15% above book value[2]. Net proceeds of the divestment are expected to be about JPY3.9 billion (S$36.4 million) and CLAS will recognise a net gain of JPY1.1 billion (S$10.1 million...
CapitaLand Ascott Trust Completes Divestment of Four Properties in Regional France for EUR44.4 Million
CapitaLand Ascott Trust | September 26, 2023
Singapore, 26 September 2023 – CapitaLand Ascott Trust (CLAS) has completed the divestment of four mature serviced residences in regional France to an unrelated third party for a total of EUR44.4 million (S$64.7 million[1]). The four properties are Citadines Croisette Cannes, Citadines Prado Chanot Marseille, Citadines Castellane Marseille and Citadines City Centre Lille. The four properties were divested at 63% above book value[2] and net proceeds of the divestment is approximately EUR34.1 million (S$49.7 million). The exit yield[3] is about 4% and CLAS received a net gain of approximately EUR1.2 million (S$1.8 million). Post-dive...
