Ascott to open first Citadines serviced residence in US
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Singapore
THE Ascott Limited, property developer CapitaLand's wholly owned serviced residence arm, has bought a property on New York's Fifth Avenue and plans to invest "close to" US$50 million in it, CapitaLand said in a Singapore Exchange filing on Friday morning.
Ascott will renovate the operating 125-unit Hotel Central Fifth Avenue New York at 15 West 45th Street and rebrand it as Citadines Fifth Avenue New York in 2018.
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