CapitaLand Ascott Trust (CLAS) has divested Citadines Karasuma-Gojo Kyoto in Japan to an unrelated third party for about JPY6.18 billion (S$53.1 million).

The 124-unit property was divested at 40.1% above book value at an exit EBITDA yield of about 0.3%. Net proceeds of the divestment are JPY4.4 billion (S$37.8 million) and CLAS has recognised a net gain of JPY0.9 billion (S$8.0 million).