Ascott Residence Trust looking at rental housing

ASCOTT Residence Trust (ART) is considering an expansion of its portfolio in the rental housing market, reported The Business Times.

“[We’re] a bit more selective in the assets we want to acquire, with a longer stay segment in our portfolio . . . Rental housing has proven itself to be very resilient,” reported the article, sourcing Beh Siew Kim, chief executive of ART’s managers, at a briefing to discuss the trust’s results for first half ended June 30.

ART will be looking for rental housing portfolios to acquire, particularly in the United States and Europe.