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The Ascott’s Global Fund Acquires Two Prime Properties In Paris And Tokyo
Daily Bulletin | 09 November 2015
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CapitaLand’s wholly owned serviced residence business unit, The Ascotts, has announced that its 50:50 joint venture private equity fund with Qatar Investment Authority has acquired two prime properties in Paris and Tokyo for US$104 million ($145 million).

The fund will invest another US$33 million ($46 million) to convert the office building in Paris into a luxury serviced residence, slated to open in 2018 and embark on asset enhancement to reposition the serviced residence in Tokyo, which is expected to be completed by end 2016, bringing the total investment to US$137 million ($191 million). The two acquisitions cement Ascott’s position as the world’s largest international serviced residence owner and operator with more than 43,000 units across 277 properties, spanning 95 cities.

CapitaLand  3.130 -- --   
Business: Co develops, owns, and manages real estate properties. [FY17 Geographical] S'pore (38.8%), China (38.5%), Europe & others (11.9%), Other Asia (10.8%).

Insight: Aug-18, Co and joint venture partner City Developm... Read More


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