Net proceeds of the divestment are JPY4.4 billion. CLAS has recognised a net gain of JPY0.9 billion.
CapitaLand Ascott Trust (CLAS) has divested Citadines Karasuma-Gojo Kyoto in Japan to New York Stock Exchange-listed Hilton Grand Vacations for JPY6.18 billion ($53.1 million).
The 124-unit property was divested at 40.1% above book value at an exit ebitda yield of about 0.3%, it says in a filing.
