Park Hotel Clarke Quay. (Google Maps)

Ascott Residence Trust (ART) has issued a notice of intended forfeiture to its tenant that currently operates Park Hotel Clarke Quay under a master lease.

The asset was inducted into Ascendas Hospitality Trust’s portfolio following a 2013 acquisition.

The property was subsequently taken into ART’s fold following the merger between Ascott Residence Trust and Ascendas Hospitality Trust.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.