Ascott REIT has announced the sale of a Citadines Didot Montparnasse (France) and Ascott Guangzhou (China) to two unrelated parties for a total of about S$191.4 million. Both properties are sold at 69% and 52% (respectively) above book value. The trust will realize significant capital gains but has no indicated any specific use for the funds.
Ascott REIT Selling Two Properties
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Ascott Residence Trust
|Yield (4 quarters)||6.05%|