(09 Mar 2022, 11:16 +07)
Ascott Residence Trust (ART) has unveiled plans
to invest about JPY 10.4 billion (S$125 million) to acquire four
rental housing properties and its first student accommodation
property in Japan.
Three of the rental housing properties are located
in central Osaka with the other in Fukuoka, one of the
fastest growing cities in the country.
The student accommodation
property in Osaka serves the main campus of Kindai University
(KU), which is just a two-minute walk away. KU has over 30,000
undergraduate students.
The yield-accretive acquisitions are set to
increase ART’s pro forma FY 2021 Distribution per Stapled Security
by approximately 1.7%. The average NOI yield is expected to be
about 4%.
Eslead College Gate Kindaimae
The five properties will be acquired on a turnkey
basis from two different sellers on a willing buyer and willing
seller basis.
The transactions are expected to be completed
between 1Q 2022 and 2Q 2023.
Ms Beh Siew Kim, Chief Executive Officer of Ascott
Residence Trust Management Limited and Ascott Business Trust
Management (the managers of ART) said, “ART continues to
build up our longer-stay portfolio to boost income stability.
Post-acquisition, on a pro forma basis, ART’s longer-stay
properties are expected to contribute 17% to gross profit, up from
15% in FY 2021. As the five properties will be acquired on a
turnkey basis, there is no development risk. Minimal down payment
is required and the majority of the payment will be made upon
completion of the transactions. We remain committed to delivering
sustainable, long-term value to our Stapled Security holders.”
With these latest acquisitions, ART has invested
about S$905 million in longer-stay properties since January 2021.
The acquisitions of the five freehold rental housing and student
accommodation properties will increase ART’s longer-stay
properties to 17% of its total portfolio value.
ART is on track to
meet its medium-term target of 25-30% for its longer-stay
properties, strengthening the resilience of ART’s portfolio.
“The addition of four more rental housing
properties will boost the overall resilience of our portfolio.
Leases for the four properties are about two years in length,
providing better visibility and stability in future cashflows.
ART’s existing rental housing properties in Japan have achieved a
strong average occupancy rate of over 95% in 2021 despite
COVID19. The
three rental housing properties in Sapporo have
performed well since our acquisition in June 2021. We expect the
four new rental housing properties to perform strongly too. Our
first student accommodation property in Japan adds to our quality
portfolio of eight student accommodation properties in the USA. It
is located close to a highly reputable university with a large
student population, and there is limited competing supply. The
property in Japan is under a 15-year master lease with the largest
student accommodation operator in the country, generating stable
income for ART,” added Ms Beh.
See also:
Ascott Residence Trust Buys More Student Accommodation in USA,
Ascott to Develop Student Accommodation in South Carolina, USA
and
Ascott Residence Trust to Buy UIUC Student Accommodation Building
in Illinois, USA.
Headlines:
DHL Signs CM Agreement with SIA Covering Five Boeing 777 Freighters
Recovery in Domestic and International Air Travel Slows in January
Air Canada Operating 21 Return Flights to India Per Week
American Airlines to Enhance Operations at London Heathrow
Qatar Airways to Resume Flights to Windhoek in June
Scandinavian Airlines Signs Three-Year Charter Agreement with Apollo
Rega Swiss Air-Rescue Orders Nine 5-Bladed Airbus H145 Helicopters
Avion Group to Open A320 Level D Full Flight Simulator in Koropi, Greece
Six Senses Fiji to Reopen 1 April
IATA Reports Global Air Cargo Performance for January
Desaru Coast Improves Connectivity with Singapore by Partnering Batam Fast Ferry
Mandarin Oriental Expands Responsible Procurement Efforts
Air Astana Carried Record Number of Passengers in 2021
IHG Re-Signs Hotel in Najran, Saudi Arabia
DHL Express Orders Six Boeing 777 Freighters
HEPA Air Filters Approved for Dassault Falcon 2000EX
Ascott Buys Five More Properties in Japan
IHG Rebrands Hotel in Doha, Qatar
President Jokowi to Join 20 MotoGP Riders on Parade Through Jakarta
STAT MedEvac Orders 10 Airbus H135 Helicopters
American Airlines Appoints Scott Laurence as SVP – Partnership Strategy
Qatar Airways to Launch Flights to Santorini, Greece
Nominations Open for 2022 IATA Diversity and Inclusion Awards
Airbus Strengthens Partnership with THC in Saudi Arabia
Embraer Enters Freighter Market with E190F and E195F P2F Conversions
Angsana Laguna Phuket to Host TTM+ 2022 in June
All Nippon Helicopter Signs HCare Agreement for First Airbus H160
Emirates Signs MOU with Sri Lanka Tourism Promotion Bureau
Finnair to Launch Flights to Seoul and Shanghai; Cancels Osaka and Hong Kong
IHG Opens Second Hotel Indigo in Manhattan, New York
Ray Berja Appointed MD of airasia Super App Philippines
Etihad Airways to Launch Flights to Nice, France
AirAsia Malaysia Reintroduces Fuel Surcharges
Cebu Pacific Expands Domestic Network in Philippines
Ethiopian Airlines Signs MOU for 5 Boeing 777-8 Freighters
Qatar Airways Launches Flights to Kano and Port Harcourt in Nigeria
Sabre Terminates Distribution Agreement with Aeroflot
Chef Antonio Guida Opens First Restaurant Outside of Italy
Etihad Airways to Expand Use of Jeppesen FliteDeck Advisor on Boeing 787 Fleet
Thai Airways Launches Air Travel Bubble Flights to Four Cities in India
Minor Hotels Signs Riverside Resort in Chiang Mai, Thailand
IHG Opens Luxury Resort in Ras Al Khaimah, UAE
Marriott to Add 13,000 Hotel Rooms to Greater China Portfolio in 2022
United Airlines Launches Bag Drop Shortcut
Bart Callens Appointed Cluster GM of Two Resorts in Southern Thailand
Finnair Expects Closure of Russian Airspace to Cause More Furloughs
Tickets for Semi-Finals and Finals of Rugby World Cup 2023 on Sale from 15 March
Mandarin Oriental Lago di Como to Reopen 1 April
IATA Publishes Airline Safety Performance Data for 2021
Finnair to Resume Helsinki – Tokyo Flights on 9 March
John Scanlon Appointed GM of The Beverly Hills Hotel
Airbus Flight Academy Europe Inaugurates Campus in Angoulême, France
Accelya Appoints Jim Davidson as CEO
Etihad Airways’ FY2021 Results Include Highest Ever Cargo Revenues
GKN Aerospace Tests New Lightweight Turbine Rear Structure
France and Spain Order 60 Tiger MKIII Attack Helicopters
IATA Revises Long-Term Global Air Travel Forecasts
Sabre Completes Sale of AirCentre to CAE
Hilton Garden Inn Hotel Opens in Bengaluru, India
Emirates Opens Remote Check-In Facility in Ajman
Gopass Global to Expand Travel Risk Assessment Solution
Apo Ozkececi Joins Accelya as Head – Asia Pacific
Plaza Premium Opens Second Lounge at Budapest Airport
Whitbread Signs 84-Room Premier Inn Hotel in Hastings, England
Narai Hospitality to Launch Luxury Hotel Brand in Thailand
Biman Bangladesh Airlines Implements SabreSonic Passenger Service System
Asia Pacific Airlines Carried 2.7 Million Int. Passengers in January
Wharf Hotels Appoints Thomas Salg as President
Minor Opens Largest Avani Resort in Thailand
Hyatt Signs 9th Hotel in London, England
Capital A Reports 4Q2021 and FY2021 Results
American Airlines Launches Redesigned AAdvantage FFP
Hyatt Partners ANTA Sports to Launch New Hotel Brand
Marriott Signs First St. Regis Hotel in UK
Simon Barnett Appointed GM of Four Seasons Hotel Jakarta
Finnair Cancels and Re-Routes Select Flights
airasia Food Expands Delivery Service to Nonthaburi, Thailand
Emirates Signs MOC with Tourism Authority of Thailand
Etihad Encourages Customers to Reduce Carbon Footprint by Adopting Mangroves
India Takes Delivery of 12th P-8I Maritime Patrol Aircraft from Boeing
Singapore Airlines Reports First Quarterly Profit Since Start of COVID19 Pandemic
Thai AirAsia Reports FY2021 Results; Plans to Reduce Fleet to 53 Aircraft
Qatar Airways Expands Distribution Agreement with Travelport
SITA Appoints David Lavorel as CEO
Andrew Leith Appointed GM of Selong Selo Resort in Lombok, Indonesia
OCCAR Signs Major Eurodrone Contract
World Rugby Appoints Sally Horrox as Director of Women’s Rugby
Serbia Orders Two Airbus C295 Transport Planes
Hong Kong Airport Reports January’s Cargo and Passenger Traffic
Shangri-La Opens First Hotel in Saudi Arabia
Thailand Orders Eight AH-6 Light Attack Reconnaissance Helicopters
Korean Air in Busan to Showcase UAVs at Drone Show Korea 2022
airasia Rewards Partners Thailand’s KTC Forever
Gulf Air to Expand European Flight Network
Dassault Aviation Opens Service Center at ISP in Islip
Air Peace Signs Services Agreement for E195-E2 and ERJ 145 Aircraft
Sofitel Sydney Darling Harbour Upgrades Door Locks; Installs Self Check-In Kiosks
Starlux Airlines Takes Delivery of First Widebody Aircraft
Airbus and CFM Working on Direct Combustion Engine Fuelled by Hydrogen
Air Canada to Resume Flights to Key International Destinations
Etihad Airways to Launch Flights to Crete, Malaga, Santorini and Zanzibar
Pierre Lang Moves to Koh Samui as GM of Kamalaya
IHG Opens First Crowne Plaza Hotel in Egypt
Airbus, Safran and Tikehau Ace Capital Sign MOU to Acquire Aubert & Duval
Minor Signs Third Anantara Hotel in China
Plaza Premium Opens Second Lounge at Helsinki Airport
Airbus Asia Training Centre Adds 4th A350 Full Flight Simulator
Capital A Expands airasia Super App to Thailand
Cathay Pacific to Implement Sabre’s AirVision Fares Manager and Optimizer
QACC Recycled Over 1 Million Kilograms of Plastic Waste Within a Year
British Airways to Resume Singapore – Sydney Flights in March
Aerotransportes Mas de Carga Takes Delivery of First A330-200P2F
Bangkok Airways to Resume Suvarnabhumi – Krabi Flights in March
Cathay Pacific Reports January 2022 Cargo and Passenger Traffic
Airbus, Rolls-Royce, Safran and Singapore Airlines Sign Global SAF Declaration
Cebu Pacific Resumes Flights to Key Destinations
Malaysia Airlines to Lease 25 New Boeing 737-8 Aircraft from ALC
ANA Extends Maintenance Performance Toolbox Contract with Boeing
Saudi Tourism Authority Signs MOU with Emirates Airline
British Airways to Increase London – New York Flights
Singapore Airlines to Replace Boeing 747-400Fs with Airbus A350 Freighters
Qantas to Base Four Embraer E190s at Darwin Airport
Timothy Lee Moves to Thailand as Hotel Manager of Rosewood Phuket
Cebu Pacific Signs A330 Flight Hour Services Deal with Airbus
Travel Risk, COVID19 and Gopass Global – Interview with Mark Radford, CEO
HD Videos and Interviews
Podcasts from HD Video Interviews
RSS News Feed and Ticker
Travel Industry News Archives
Travel Trade Shows
High-Res Picture Galleries
Travel News Asia – Latest Travel Industry News

Looking for Bali, Vietnam, Cambodia tour packages, we are the best choice!!!