Ascott REIT Selling Two Properties

News about Ascott Residence Trust

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 Residence Trust
Price1.010 SGD
NAV1.190 SGD
Yield (4 quarters)3.99%
Gearing35.9%