Ascott

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.

The lab will develop technologies to deliver cutting-edge experiences to guests in the metaverse.

Currently, the lodging business has 17 properties under its lyf brand.

The acquisitions are set to grow the group’s fund under management to $9b.

The Ascott Limited’s 240-unit property is located in Singapore.

This includes ART's first student accommodation property in Japan.

The aggregate purchase consideration of the property was $39.5 m.

The freehold is the ninth in Ascott's student accommodation portfolio in a year.

Distribution income in the same period also jumped by 46% YoY to $137.3m.

A new range of collaborative social spaces will make up the structure. 

It also reached the highest-ever property openings of 8,200 units.