(01 Jun 2021)
Ascott Residence Trust (ART) has entered into
agreements to acquire three freehold rental housing properties in central Sapporo for a total of JPY 6.78 billion (S$85.2 million).
The three properties – City Court Kita 1 jo
(pictured), Big Palace Minami 5 jo,
and Alpha Square Kita 15 jo – are within walking distance from
train stations, a wide range of retail and entertainment options,
and are either within or near the central business district.
The average EBITDA yield of the three acquisitions is
approximately 4% and the transactions are expected to complete by end