Ascott Reit acquiring 7 assets in Australia, Japan for S$298.3m
Ebitda yield of 5.1% for three serviced residences and four rental housing properties
Singapore
ASCOTT Residence Trust (Ascott Reit) is looking to acquire three serviced residences and four rental housing properties in Australia and Japan for S$298.3 million at an Ebitda (earnings before interest, taxes, depreciation and amortisation) yield of 5.1 per cent.
Ascott Residence Trust Management Limited (ARTML), the trust's manager, said on Thursday that, on a pro forma basis, the acquisitions are expected to raise the Reit's FY2014 distribution income by S$3.9 million and distribution per unit by 2.9 per cent from 8.20 cents to 8.44 cents.
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