The Ascott snags 80% stake in US corporate housing player

Singapore

MARKING its first foray into corporate housing and entry into the US West Coast, The Ascott Ltd is paying US$33.7 million for 80 per cent of Synergy Global Housing, which operates a large portfolio of leased properties.

The deal triples Ascott's portfolio from over 1,000 units to about 3,000 units in the US, and raises its global portfolio to nearly 70,000 units.