The Business Times
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CapitaLand Ascott Trust’s divestments could help it buffer against higher-for-longer interest rate scenario

It should seize opportunities available in market, as long as exit yields remain favourable

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Jessie Lim

Jessie Lim

Published Wed, Nov 13, 2024 · 05:00 AM
    • The proceeds of the sale of Citadines Mount Sophia Singapore will be going towards the S$146.4 million purchase consideration for lyf Funan Singapore.
    • The proceeds of the sale of Citadines Mount Sophia Singapore will be going towards the S$146.4 million purchase consideration for lyf Funan Singapore. PHOTO: CLAS

    THE managers of CapitaLand Ascott Trust (Clas) have announced a flurry of divestments for the lodging trust in recent months.

    Most recently, Clas in October said that it will be selling the Somerset Olympic Tower Tianjin serviced residence in China for an undisclosed price to an unrelated third party. The transaction is expected to be completed in the second quarter of 2025.

    In the same month, it also announced two divestments in Japan: the Citadines Karasuma-Gojo Kyoto serviced residence for about 6.2 billion yen (S$53.1 million) and the Infini Garden rental housing in Fukuoka for 12.7 billion yen.

    Hock Lock SiewCAPITALAND ASCOTT TRUST

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