The sum received represents 63% above the properties’ book value as at Dec 31, 2022, with the REIT receiving net proceeds of around EUR34.1 million. The exit yield, based on CLAS’s FY2022 ended Dec 31, 2022 ebitda, is about 4% with CLAS receiving a net gain of some EUR1.2 million.
CapitaLand Ascott Trust (CLAS) (SGX:HMN
) has completed the divestment of four of its properties in regional France for EUR44.4 million ($64.7 million).
The four properties, Citadines Croisette Cannes, Citadines Prado Chanot Marseille, Citadines Castellane Marseille and Citadines City Centre Lille, were divested to an unrelated third party.
