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.