Is Ascott trust mulling sale of Ascott Raffles Place?
WORD on the street is that an expression of interest (EOI) exercise closed recently for Ascott Raffles Place, a 20-storey conserved building with 146 serviced apartments.
Located at 2 Finlayson Green and a stone's throw from the Raffles Place MRT Station, the 999-year leasehold property is owned by the listed Ascott Residence Trust (ART), the sponsor of which is The Ascott Ltd, a fully-owned subsidiary of CapitaLand.
The EOI exercise was conducted by Cushman & Wakefield, which also helped CapitaLand Commercial Trust (CCT) - another CapitaLand-sponsored real estate investment trust (Reit) - with its divestments of Wilkie Edge last year and Twenty Anson this year.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Aims Apac Reit posts 10.2% lower H2 DPU on enlarged unit base
VinFast’s EV ambitions get a reality check as shares plunge 65%
Stocks to watch: FLCT, Paragon Reit, AA Reit, Lendlease Global Reit, Far East Orchard, SIA
Jefferies asks judge to remove managers of Weiss Multi-Strategy
JPMorgan sees gain of about US$8 billion from Visa exchange offer
BlackRock cuts jobs in muni business under new leadership