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Ascott Residence Trust acquires first student accommodation asset in US for US$95 mil

Felicia Tan
Felicia Tan1/27/2021 8:40 AM GMT+08  • 2 min read
Ascott Residence Trust acquires first student accommodation asset in US for US$95 mil
The accretive acquisition will increase the pro forma FY2020 distribution per stapled security (DPS) by some 4.4%.
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Ascott Residence Trust (ART) has acquired its first student accommodation asset in Atlanta, Georgia in the US for US$95 million ($126.3 million) on Jan 27.

The purpose-built student accommodation (PBSA) asset, Signature West Midtown, is a freehold property with 525 beds across 183 units.

The transaction is expected to be completed by end 1Q2021.

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