Ascott REIT to buy five properties in Japan for $125 mil

The Edge Singapore
The Edge Singapore3/9/2022 09:02 AM GMT+08  • 1 min read
Ascott REIT to buy five properties in Japan for $125 mil
The acquisitions will help boost the portfolio's resilience
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Ascott Residence Trust (ART) will invest about JPY 10.4 billion ($125 million) to acquire four rental housing properties and its first student accommodation property in Japan.

The transactions, when completed, will increase its pro forma FY 2021 distribution per stapled security by approximately 1.7%.

The five properties, to be acquired from two different sellers, are expected to be completed between 1Q 2022 and 2Q 2023.

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