CICT currently holds a 45% interest in the serviced residence. Based on CICT's 45% interest, CICT is divesting its stake for $126.0 million. Estimated net proceeds from the divestment is approximately $37.8 million and the exit yield is approximately 3.6%.
CapitaLand Integrated Commercial Trust (CICT) and its joint venture partners are divesting CapitaSpring's serviced residence component to unrelated third parties at an agreed property value of $280.0 million.
According to a May 2 bourse filing, the serviced residence component was valued at $278.5 million (on a 100% basis) at end-2024.
