Ascott REIT Doubles Down on US Student Accomodation Assets

News about CapitaLand Ascott Trust

Ascott REIT keeps pivoting away from tourism with the acquisition of four more American student accommodation properties. All recently completed, two are located in North Carolina, one in Pennsylvania and another is in Ohio for a total of 1,651 beds. All have a freehold land tenure except for but the Latitude at Kent (Ohio) which is a leasehold ending in 2117.

At a group price of US$213.0 million, the transaction will be funded from existing sources and is expected to be yield-accretive.

CapitaLand Ascott Trust
Price0.980 SGD
NAV1.130 SGD
Yield (4 quarters)4.70%
Gearing35.8%