Hospitality trust CapitaLand Ascott Trust (CLAS) is set to divest The Robertson House by The Crest Collection in Singapore for S$360m ($281m).
Sold to an unrelated third party, the deal is expected to complete in the third quarter of 2026
According to CLAS, the 336-unit hotel is being sold at 4% above its book value, resulting in a net gain of approximately S$38.1m. The transaction represents an exit yield of 2.3%. Net proceeds from the sale are reported at S$341.7m.
Following the transaction, CLAS will continue to have a presence in Singapore with four lodging properties. These include Ascott Orchard Singapore, lyf Funan Singapore, and lyf one-north Singapore, all of which are currently operational. The fourth property, Somerset Clarke Quay Singapore, is undergoing redevelopment.