23 Mar '14, 11pm

Great Writeup about Singapore REIT's Latest Fukuoka Acquisition from our friend Munirah Bee, at...

Mar 21, 2014 - PropertyGuru.com.sg Comment E-mail to friend Bookmark & Share Ascott Residence Trust (Ascott Reit) has acquired a rental housing property in Fukuoka, Japan from The Ascott Limited (Ascott) and ArcResidential Japan Investments for 6.3 billion yen (approx. S$78.4 million). In a statement, Ascott Reit said that on a pro forma basis, the accretive acquisition will increase 2013 distribution per unit by 2.1 percent from 8.40 cents to 8.58 cents. The 389-unit Infiniti Garden (pictured ) comprises two, three and four-bedroom apartments and is centrally located in Island City, an artificial reclamation island in Hakata Bay, which in recent years has undergone major infrastructure development. The 16-storey property is a 25-minute drive to the central business district. Lim Jit Poh, Chairman of the trust's manager, said: “Infiniti Garden is our second property in Fuk...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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