Ascott REIT Doubles Down on US Student Accomodation Assets

News about Ascott Residence 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.

Ascott Residence Trust
Price1.010 SGD
NAV1.170 SGD
Yield (4 quarters)4.27%
Gearing37.1%