According to CLAS, the ebitda yield on total development cost is expected to be around 7%, higher than the 6.2% yield that was projected in 2021. The projected yield was based on the premise that the property had achieved a stable performance.
CapitaLand Ascott Trust (CLAS) has acquired the remaining 10% stake in Standard at Columbia, a freehold student accommodation property in South Carolina, US.
The REIT acquired the property in phases over the last three years. CLAS and its sponsor, The Ascott Limited, first jointly invested to own 90% of the property on a 50:50 basis and to develop the property. CLAS then acquired Ascott’s 45% stake in November 2022.
