Amsterdam’s Bouwinvest pours US$75m into CLI’s lodging private fund

The private fund has a target equity size of $800m (US$596.04m).

Netherlands-based real estate investment manager Bouwinvest has invested US$75m ($100.7m) in Capitaland Investment Limited’s lodging private fund, CapitaLand Ascott Residence Asia Fund II (CLARA II).

CLARA II is CLI’s second private fund focusing on serviced residence and coliving assets.

Jorrit Sennema, portfolio manager for Asia-Pacific at Bouwinvest, said the company aims “to pivot between short and long-stay hospitality demand in the Asian gateway markets” through the investment.

CLARA II has acquired a 50% stake in the 308-unit lyf Bugis Singapore and a 100% stake in the 200-unit lyf Shibuya Tokyo in Japan from Ascott.