This is C-WELL’s first acquisition since announcing its first close in end-October 2023. C-WELL is CLI’s inaugural wellness and healthcare-related real estate fund anchored in Southeast Asia. The value-add fund will focus initially on Singapore, Thailand and Malaysia. With a target fund size of $1 billion on an upsized option, C-WELL will invest in single or mixed-used assets that span the healthcare, medical, wellness and preventive care spectrum.
The Ascott Limited (Ascott), a lodging business unit wholly owned by CapitaLand Investment (CLI) and CapitaLand Wellness Fund (C-WELL), have jointly acquired a freehold lodging property, Hotel G, in Singapore. Ascott and C-WELL each holds a 50% stake in the lodging property.
Located in Singapore’s downtown core district within walking distance to both Bugis and Bencoolen MRT train stations, the 308-unit Hotel G will be upgraded and rebranded under Ascott’s award-winning lyf (pronounced ‘life’) brand as demand for experience-led social living grows. Separately, Mingtiandi reported that Gaw Capital divested Hotel G for US$180 million ($238 million). The property will remain operational throughout the renovation period and be unveiled as lyf Bugis Singapore in mid-2024.
