CapitaLand Ascott Buys Two Japanese Hotels

News about CapitaLand Ascott Trust

CapitaLand Ascott Trust is announcing the purchase of two freehold hotels in Japan for 21 billion yen (or about S$178 million):

Teo noted that the FY2024 NOI yield of the two hotels is 230 basis points higher than the blended exit yield of about 2 per cent for the four previous divestments in Japan.

She said: “By swiftly redeploying divestment proceeds into these higher-yielding assets, we have fully replaced the income from the four divested properties. Clas continues to focus on delivering growth by ensuring our portfolio is well-positioned to capture lodging demand.”

CapitaLand Ascott Trust
Price0.890 SGD
NAV1.150 SGD
Yield (4 quarters)6.85%
Gearing38.3%