Announced
Financials
Tags
Vietnam
Majority
Japan
Cross Border
Real Estate
Private
Australia
France
accommodation marketplace
Acquisition
Pending
United States
Real Estate Holding and Development
Friendly
Single Bidder
Synopsis
Ascott Residence Trust, a real estate investment trust, agreed to acquire nine quality serviced residences, rental housing and student accommodation properties across five countries for $232m. The acquisition is expected to strengthen ART’s presence in its existing markets. The assets are predominantly located in Asia-Pacific with seven of the assets in Australia, Japan and Vietnam, and two in France and the US. The acquisition of the nine properties with a total of 1k units will grow ART’s total assets to S$8.3bn as of 31 December 2021 on a pro forma basis, further consolidating ART’s position as Asia-Pacific’s largest hospitality trust.
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