[ad_1]
Secure first closing and acquire two LYF branded properties.
Singapore and Japan as a seed asset
Singapore, February 14, 2024 /PRNewswire/ — CapitaLand Investment Limited (CLI) has launched a new accommodation private fund, CapitaLand Ascott Residence Asia Fund II (CLARA II). The target share size is 600 million USD (800 million Singapore dollars[1]), CLARA II invests in serviced housing and multifamily housing in gateway cities in major development areas. Asia Pacific market.
CLARA II is CLI’s second private fund focused on serviced housing and co-living assets. This is the successor fund. 600 million USD (800 million Singapore dollars) Ascott Serviced Residences Global Fund (ASRGF). CLI will hold a 20% sponsor’s stake in CLARA II, in line with its asset-light strategy to grow capital under management while maintaining strong collaboration with investors and partners. The remaining 80% will be held by third-party institutional investors. CLARA II leverages the global operational expertise of Ascott Limited (Ascott), CLI’s wholly-owned lodging division, to manage a high-quality portfolio of resilient, green-certified accommodation properties and We are creating more value for our customers.
CLARA II secured first close with equity commitments from global institutional investors. Europe and Asia, and the fund acquires two seed assets. This asset will hold his 50% stake in LYF Bugis Singapore, which has 308 units.[2] Owns 100% of the shares of LYF Shibuya Tokyo, which has 200 units. Japan From Ascot. The two freehold properties are strategically located in their respective city centers and are well positioned to capture the strong demand of business and leisure travellers. Both properties will be green certified. LYF Bugis Singapore is scheduled to open in mid-2024, and LYF Shibuya Tokyo is scheduled to open in Q4 2024. Please see the annex for more information on both properties.
Mr. Kevin GoCEO of CLI Lodging and Ascott said: “By combining CLI’s investment management capabilities with Ascott’s expertise in operating lodging properties around the world under award-winning brands, we will “We are well positioned to support the fund’s growth.” CLARA II has a strong financial foundation to seize good investment opportunities and infuse high-quality assets into our private funds, leveraging traveler preferences for trusted brands and providing the Ascott World By leveraging our global operational expertise and sales and marketing network, we can increase our value. As international travel continues to trend upwards, investors will further benefit from strong lodging demand. Asia Pacificwe believe that private lodging funds may be established in other regions as well. Europe. ”
Mak Ho Kit, Managing Director of CLI’s Lodging Private Equity Fund, said: “Serviced housing and co-living properties have proven resilient during the COVID-19 pandemic. “These properties are generating stable income,” he said. With trends such as increased global mobility, the mainstreaming of communal living and travelers spending more time abroad, this sector is strategically positioned to offer attractive returns.[3]. CLARA II targets markets with strong economic fundamentals and transparent regulation. We see excellent investment and value-add opportunities in these key development areas. Asia Pacific market. ”
“Through our first fund, ASRGF, we have demonstrated how we can create value for our investors. Over 90% of ASRGF’s portfolio is either raised off-market or originated in-house. This is a testament to our strong global investment team. After a successful rebrand and asset enhancement initiative, the first real estate sale under ASRGF exceeded expected returns. ASRGF’s newest property, LYF Ginza Tokyo, opened in 2016. November 2023 And since then, we have exceeded our average target rent. As a trusted partner, we remain committed to delivering quality returns to our investors,” Mack added.
About CapitaLand Investment Limited (www.capitalandinvest.com)
Head office and listed companies SingaporeCapitaLand Investment Limited (CLI) is a leading global real estate investment management company (REIM). Asia scaffold. As of September 30, 2023, the CLI is S$133 billion Total real estate assets under management and 90 billion Singapore dollars Total real estate funds (FUM) held through six publicly traded real estate investment trusts and business trusts and over 30 private vehicles. Asia Pacific, Europe and united states of america. The company’s diverse real estate asset classes cover retail, office, lodging, business parks, industrial, logistics and data centers.
CLI aims to grow FUM and fee-related revenues and maintain effective capital management through fund management, property management and all of its operational capabilities. As the investment management arm of CapitaLand Group, CLI has access to the development capabilities of CapitaLand’s development division, from which it pipelines investment opportunities.
As a responsible company, CLI puts sustainability at the core of what we do and is committed to achieving net-zero Scope 1 and 2 carbon emissions by 2050. CLI contributes to the environmental and social well-being of the communities in which it operates. Delivering long-term economic value to stakeholders.
Follow @CapitaLand on social media
Facebook: @CapitaLand / facebook.com/capitaland
Instagram: @CapitaLand / instagram.com/capitaland
twitter: @capitaLand / twitter.com/CapitaLand
LinkedIn: linkedin.com/company/capitaland-limited
YouTube: youtube.com/capitaland
Important Notices
This announcement and the information contained herein does not constitute, and is not intended to constitute, an offer or solicitation of investment products to investors in any jurisdiction where such offer or solicitation is not permitted.
Annex – About LYF Bugis Singapore and LYF Shibuya Tokyo
Targeted at the next generation of travelers, both lyf-branded properties offer an experience-driven social living concept for guests on long-term or short-term stays.
lyf Bugis Singapore (scheduled for release in mid-2024)
It is located in the city center of Bugis, part of the Downtown Core district. Singapore, lyf Bugis Singapore is within walking distance of both Bugis and Bencoolen MRT stations. The 308-unit property is located close to local shopping areas such as Bugis Street and provides easy access to Bugis Arts and Heritage Precinct, which is lined with local bars and eateries along Arab Street and Haji Lane. .
The facility offers a wide range of amenities that support both social and active health.Shared spaces such as coworking lounges ‘Connecting’Social Kitchen”hook up’ And a coin laundry.”wash and hang Allow your guests to determine their desired stay requirements while providing an opportunity for them to interact with each other. ‘Burn’ Plus, a gym allows you to stay active while you’re on the go. A series of programs, curated by the property’s Buzz Ambassadors, not only foster meaningful engagement among guests, but also seek to foster personal mindfulness.
lyf Shibuya Tokyo (Opening in the 4th quarter of 2024)
lyf Shibuya Tokyo is a dynamic crossroads located in the world-famous Shibuya district. Tokyo’s Entertainment, retail, culture, arts and technology sectors. Plenty of shopping and entertainment can be enjoyed on your doorstep, including popular department store Parco and retail chain Tokyu Hands, which is directly opposite the property. LYF Shibuya Tokyo is located a 5-minute walk from Shibuya Station, providing easy access to other areas. Tokyo Nine different train lines connect to the station, providing access to the airport as well as nearby areas.
The 200-unit LYF Shibuya Tokyo offers a wide range of well-designed apartment units, and guests can enjoy LYF’s signature social spaces, including a coworking lounge.Connecting“Social Kitchen”hook up“, coin laundry”wash and hang“And the gymnasium.”Burn‘.
View original content to download multimedia: https://www.prnewswire.com/apac/news-releases/capitaland-investment-establishes-capitaland-ascott-residence-asia-fund-ii- to-invest-in-lodging-properties – In the midst of growing demand – 302060519.html
Source CapitaLand Investment Limited
[ad_2]
Source link
