CapitaLand Ascott Trust (Clas) has agreed to acquire the Coliwoo Midtown serviced residence in Singapore for S$134 million.
The trust's manager announced the deal on Thursday, marking a targeted expansion of its asset base in the city-state's short-stay accommodation sector.
4%. This accretive move underscores the trust's strategy to grow its recurring income stream through selective additions to its portfolio, rather than relying solely on organic growth or larger-scale mergers.
The acquisition is projected to increase the trust's pro forma distribution per stapled security by 2.4%.
This accretive move underscores the trust's strategy to grow its recurring income stream through selective additions to its portfolio, rather than relying solely on organic growth or larger-scale mergers.
Coliwoo Midtown adds to Clas's existing footprint in Singapore, a key market for the trust.
The deal reflects continued investor appetite for high-quality serviced residence assets in major Asian hubs, where demand from corporate travelers and long-stay guests remains resilient despite broader economic headwinds.