Ascott

It wants to leverage travellers’ appetite for new experiences.

The company also focused on securing prime properties to double its fee revenue.

The portfolio is titled The Crest Collection.

Its gross profit also went up 80% during that year.

The names of their managers were also changed.   The names of property firms, Ascendas Real Estate Investment Trust (Reit), Ascott Residence Trust (ART), and Ascendas India Trust, were modified as well as their managers. 

An example of these malls are those owned by Starhill Global Reit.

It will benefit its stapled security holders.

The estimated costs of the acquisitions totaled $318.3m.

The property will be acquired through the Ascott Serviced Residence Global Fund.

Its distribution per stapled security went up to $0.0233.

Oakwood has 81 properties and 15,000 units under management.

The acquisition will increase Ascott’s global portfolio by 81 properties.   CapitaLand Investment Limited’s lodging business, The Ascott Limited (Ascott), will acquire apartment provider, Oakwood Worldwide, from Mapletree Investments.   Ascott said Oakwood will increase its global portfolio by 81 properties and about 15,000 units.    Upon the completion of its acquisition in Q322, Ascott said Oakwood will also  “immediately” contribute to its recurring fee income streams.   “The acquisition of Oakwood will leapfrog Ascott’s global presence to more than 150,000 units in about 900 properties across over 200 cities in 39 countries. It will add new markets which include Cheongju in South Korea; Zhangjiakou and Qingdao in China; Dhaka in Bangladesh as well as Washington D.C. in the United States of America (USA),” Ascott said in a bourse disclosure.   Kevin Goh, CLI’s Chief Executive Officer for Lodging added that Oakwood’s addition to Ascott will also bring an immediate boost to the company’s units under management and franchise contracts.  

UOB Kay Hian noted the easing of US core inflation to 4.9% in April 2022.

The freehold asset was acquired through its serviced residence global fund.

It is Ascott’s third coliving property in Singapore under the lyf brand.

This is the first sustainability-linked bond by a Singapore-listed real estate trust.