CapitaLand Ascott Completes Sale of 4 French Properties

News about CapitaLand Ascott Trust

CapitaLand Ascott Trust (CLA) announces the completion of the sale of four hospitality assets in France for 44.4 million Euro:

The sum received represents 63% above the properties’ book value as at Dec 31, 2022, with the REIT receiving net proceeds of around EUR34.1 million. The exit yield, based on CLAS’s FY2022 ended Dec 31, 2022 EBITDA, is about 4% with CLAS receiving a net gain of some EUR1.2 million.

CapitaLand Ascott Trust
Price0.910 SGD
NAV1.130 SGD
Yield (4 quarters)7.22%