Ascott REIT doubles down on its diversification and announces the purchase of four rental housing properties and one student accommodation property in Japan:

• 3 rental housing unit and 1 student accommodation in Osaka
• 1 rental housing in Fukuoka

All properties are freehold and will be completed between Q4 2022 and Q2 2023. The ¥10.4 billion (about S$125.0 million) operation will be entirely debt funded, with gearing expected to climb to 38.3%.