The Palumbos are hoping to sell the Sofitel Adelaide for a premium as Singapore’s Ascott Residence Trust has a fresh go at selling its Australian hotel portfolio.
Ascott Residence Trust (ART) will invest about JPY 10.4 billion (S$125.0 million) to acquire four rental housing properties and its first student accommodation property in Japan. The yield-accretive acquisitions are set to increase ART’s pro forma FY 2021 Distribution per Stapled Security by approximately 1.7%. The average NOI yield is.