- CapitaLand Ascott Trust announced the acquisition of the remaining 10%, it doesn’t already own in the freehold student housing property, using prior divestment proceeds.
Owning fully Standard at Columbia – a long stay asset
- - Read this at SGinvestors.io -
- The property has a pre-leasing occupancy of 99% as at end-May for the upcoming academic year with a 4% y-o-y rent growth. The purchase is in line with CapitaLand Ascott Trust (SGX:HMN)'s strategy of recycling capital into longer stay assets to boost income resilience.
Shoring up long stay asset in the property mix
- The 678-bed asset serves over 35K students from University of South Carolina, the largest university in the state. The asset commands one of the highest rents per bed.
- - Read this at SGinvestors.io -
- CapitaLand Ascott Trust subsequently acquired the sponsor’s 45% stake in Nov 2022.
Marrying stability with growth
- Read more at SGinvestors.io.
