CapitaLand Ascott Trust (CLAS) has announced the divestment of The Robertson House by The Crest Collection in Singapore for $264 million (S$360 million). The transaction, set to complete in the third quarter of 2026, is with an unrelated third party and reflects a 4% premium over the property's book value as of 31 December 2025. The deal is expected to yield a net gain of approximately $28 million (S$38.1 million) for CLAS.

The divestment aligns with CLAS' strategy to reconstitute its portfolio, enhancing financial flexibility by allowing the trust to reinvest in higher-yielding properties, support asset enhancement initiatives, and manage debt. "The divestment of The Robertson House by The Crest Collection at an attractive price of close to $808,000 (S$1.1 million) per key underscores CLAS’ disciplined approach to portfolio reconstitution," said Serena Teo, CEO of CapitaLand Ascott Trust Management Limited.

Despite the sale, Singapore remains a crucial market for CLAS, which will continue to operate four lodging properties in the city-state. These include Ascott Orchard Singapore, lyf one-north Singapore, and lyf Funan Singapore, with Somerset Clarke Quay Singapore currently under redevelopment. The latter is expected to be completed by the end of 2026 and begin contributing income from early 2027.

CLAS, the largest lodging trust in Asia Pacific, manages a diverse portfolio across 16 countries, with a focus on income-producing real estate assets. The trust's strategic divestment and redevelopment efforts aim to bolster its portfolio's resilience and growth potential

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