Ascott Residence Trust (ART) has priced its placement units at the lower-mid point of an indicative range and has stopped short of exercising the option to upsize in full.

ART announced on 15 August that it is acquiring nine serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited.

To partially fund the acquisition, the trust launched a private placement exercise, which would have raised SGD150 million

Related: Ascott Residence Trust launches SGD150 million placement for nine-asset acquisition

Dear members, please login to continue reading this article.

Don’t miss out on information beyond mainstream media reports that may impact your investments.
Login or sign-up for a free 25-day trial here. Why subscribe?

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.