CapitaLand Ascott Trust (CLAS) has acquired three freehold rental housing properties in Japan for JPY4 billion as part of its portfolio reconstitution strategy.
The acquisition comprises two properties in Osaka and one in Kyoto, funded through proceeds from the divestment of Citadines Karasuma-Gojo Kyoto in October 2024 and Japanese yen-denominated debt.
The transaction demonstrates CLAS’s ability to redeploy capital from lower-yielding assets into higher-return investments, with the new properties offering a 4% net operating income entry yield compared to just 0.4% from the divested Kyoto property.
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AloJapan.com