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Yield-accretive acquisition of the nine properties is expected to enhance ART’s income resilience and consolidate its position as Asia-Pacific’s largest hospitality trust
Ascott Residence Trust is proposing to acquire nine quality serviced residences, rental housing, student accommodation properties across five countries
Ascott Residence Trust (ART) is proposing to acquire nine quality serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited. At an estimated total capitalised cost of S$318.3 million[1], the yield-accretive acquisition is set to increase ART’s distribution by S$9.2 million and its pro forma FY 2021 Distribution per Stapled Security by 2.8%[2].