Staff Reporter
,
Singapore
Photo by Sora Shimazaki via Pexels
The acquisition was valued at $6.4 m.
CapitaLand Ascott Trust has acquired an additional 10% interest in Columbia Student Venture (CSV), which owns Standard at Columbia through Columbia Property Owner LLC (CPO).
The acquisition, valued at US$4.7m ($6.4 m), was finalised in cash and was based on an agreed property value of US$109.2m ($146.9m), adjusted for debt and related expenses.
Following the purchase, CapitaLand Ascott Trust now fully owns CSV and CPO, with both entities becoming wholly owned subsidiaries of the trust.
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