Ascott Residence Trust

Ascott Residence Trust: has agreed to buy three serviced residences in China and 11 residential rental properties in Japan for a total of $287.4 m. It will buy Citadines Biyun Shanghai and Somerset Heping Shenyang for ~$63.2 m and $86.2m, respectively, from Ascott Serviced Residence (China) Fund in which The Ascott holds a 36.1% stake. It will also buy Citadines Xinghai Suzhou from Ascott for about $23.2 m. Ascott REIT will acquire 11 rental housing properties in Japan for ~$114.8m from a separate 88.9% owned subsidiary of Ascott.