Investor Presentaiton
Divesting Properties at Premium to Book Value
Divesting S$408.1 mil in assets at average exit yield of 3.8% 1; recycling capital into more optimal uses
Announced in 2023
4 properties in
regional France
2 properties in
outskirts of
Sydney, Australia
O
Announced in Feb 2024
3 properties outside
prime districts of
Osaka, Japan
1 property in
Singapore
Citadines City Centre Lille
Citadines Croisette Cannes
Citadines Castellane Marseille
Citadines Prado Chanot Marseille
•
Courtyard by Marriott Sydney
North-Ryde
•
Novotel Sydney Parramatta
Hotel WBF Honmachi
Hotel WBF Kitasemba East
•
Hotel WBF Kitasemba West
Citadines Mount Sophia
Singapore
Divestment price
EUR 44.4 mil (S$64.7 mil)
AUD 109.0 mil (S$95.6 mil)
JPY 10.7 bil (S$99.8 mil)
S$148.0 mil
Premium over book value
63%
5%
Exit yield 1
Net gain
Completion /
Target completion
19%
c.4%
c.4.4%
c.3.2%
EUR 1.2 mil (c.S$1.8 mil)
AUD 14.2 mil (c.S$12.4 mil)
JPY1.1 bil (c.S$10.1 mil)
S$14.6 mil
Sep 2023
Jan 2024 and 3Q 2024
1Q 2024
1Q 2024
15%
n.m.
Note:
1.
The exit yield of the France and Australia properties is computed based on FY 2022 EBITDA. The exit yield of the Singapore property is computed based on FY 2023 EBITDA. The exit yield of the Japan portfolio is not meaningful and has not
been included in the average exit yield computation as the properties were largely closed in 2022. If included, the average exit yield will be about 2.8%
CapitaLand Ascott Trust
Investor Presentation
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