CapitaLand Ascott Trust acquires 3 properties in Japan
The transaction, made from an unrelated third party, is part of CLAS’ strategy to strengthen its presence in key markets like Japan.
CapitaLand Ascott Trust (CLAS) has acquired three freehold rental housing properties in Southern Kanagawa, Greater Tokyo, Japan for a total consideration of JPY4.6 billion.
The transaction, made from an unrelated third party, is part of CLAS’ strategy to strengthen its presence in key markets like Japan.
The properties include Lime Residence Hiratsuka West, Lime Residence Hiratsuka East, and Live Casa Hiratsuka. All three properties have an average occupancy rate exceeding 95% and average lease terms of approximately two years
Lime Residence Hiratsuka West consists of 115 units and was completed in 2023, while Lime Residence Hiratsuka East has 63 units and was completed in 2022. Live Casa Hiratsuka, featuring 55 units, was completed in 2024.
Following the acquisition, living assets will account for 17.5% of CLAS’ portfolio value. CLAS remains on track to achieve its medium-term portfolio allocation target of 25%-30% in the living sector and 70%-75% in hospitality assets.