Photo from ASR

CapitaLand Ascott Trust to divest Citadines Mount Sophia for $148m

The REIT expects to receive net proceeds of $138.6m from the divestment.

Capitaland Ascott Trust (CLAS) will divest Citadines Mount Sophia Singapore to an unrelated party for $148m and at 19.4% above book value.

In a bourse filing, the REIT said it expects to receive net proceeds of $138.6m and recognise a net gain of $14.6m from the divestment.

CLAS expects to complete the divestment in 1Q24.

Including Citadines Mount Sophia Singapore, CLAS has divested $408.1m assets at a premium to book value in the last eight months.  

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!