ASAP Member Ascott’s Residence Trust (ART) today announced the divestment of its 168-unit serviced residence Somerset Xu Hui Shanghai in China at RMB 1,050 Million (S$215.6 million*) to an unrelated third-party, 171% above the property’s book value.

This is part of ART’s ongoing portfolio reconstitution strategy to redeploy proceeds to higher-yielding assets.

ART_Divestment of Somerset Xu Hui Shanghai in China

 

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