CapitaLand Ascott Trust (CLAS) has sold The Robertson House by The Crest Collection in Singapore to an unrelated third party for S$360 million ($282 million). The 336-unit hotel will be divested at 4 percent above book value and an exit yield of 2.3 percent. The net proceeds from the divestment are S$341.7 million ($267 million) and CLAS will recognize a net gain of approximately S$38.1 million ($29.84 million). The transaction is expected to be completed in third quarter 2026.
“The divestment of The Robertson House by The Crest Collection at an attractive price of close to S$1.1 million per key ($861,000) underscores CLAS’ disciplined approach to portfolio reconstitution. It further enhances CLAS’ financial flexibility, enabling us to redeploy the proceeds into higher-yielding properties, support our asset enhancement initiatives (AEIs), repay higher-interest debt, and/or fund general corporate purposes. We will continue to pursue value-accretive opportunities in Sing
