Ascott Residence Trust to sell Guangzhou, Paris properties above book value
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Fiona Lam
Singapore
ASCOTT Residence Trust (ART) has entered into conditional agreements to sell Ascott Guangzhou in China and Citadines Didot Montparnasse Paris in France to two unrelated parties for S$191.4 million.
ART expects to realise total estimated net gains of S$23.2 million when both transactions are completed: S$19.4 million from the Guangzhou deal and S$3.8 million from the Paris deal, its managers said on Monday.
