CapitaLand Ascott Trust (CLAS) is divesting Citadines Mount Sophia Singapore to an unrelated third party for S$148 million. The 154-unit property will be divested at 19.4% above book value. Net proceeds of the divestment are expected to be approximately S$138.6 million. The exit yield is about 3.2% and CLAS will recognise a net gain of approximately S$14.6 million. The divestment is expected to be completed in 1Q 2024.