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Ascott Reit makes forays into KL, Wuhan and Xi'an

Acquisition of three serviced residences for a property value of $173.9m

Accretive acquisitions: Besides Citadines Zhuankou Wuhan (above), the Reit will also acquire Citadines Gaoxin Xi'an and Somerset Ampang Kuala Lumpur

ASCOTT Reit has signed conditional deals to acquire its first serviced residences in Kuala Lumpur and the Chinese cities of Wuhan and Xi'an for a total property value of $173.9 million. The consideration includes a debt component of $42.3 million. On a pro forma basis, the acquisitions are