CapitaLand Ascott Trust (CLAS) has acquired three freehold rental housing properties in southern Kanagawa, Greater Tokyo, Japan, for a total consideration of JPY 4.6 billion (S$38.3 million/$30.7 million) from an unrelated third party. The three operating properties — Lime Residence Hiratsuka West, Lime Residence Hiratsuka East and Live Casa Hiratsuka — were built between two and four years ago. The properties have an average occupancy of more than 95 percent and average lease terms of about two years, providing stable income.
On a fiscal year 2025 pro forma basis, the acquisition has a blended net operating income entry yield of 4.1 percent and distribution per stapled security accretion of 0.2 percent. The acquisition was funded by JPY-denominated debt.
“The acquisition is in line with our strategy to strengthen CLAS’ presence in key markets while building a resilient portfolio anchored by stable and recurring income streams,” said Serena Teo, CEO of Capita
