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CapitaLand Investment launches CLARA II Fund

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Published on 14/02/24 – Up up to now on 14/02/24

CapitaLand Investment Cramped (CLI) has taken a run forward with the establishment of the CapitaLand Ascott Space Asia Fund II (CLARA II), geared in the direction of addressing the escalating seek data from for lodging properties in key Asia Pacific markets.

With a target equity dimension of US$600 million (S$800 million), CLARA II succeeds the Ascott Serviced Space Global Fund (ASRGF) and underscores CLI’s strategic focal point on investing in serviced residences and coliving properties across pivotal gateway cities.

About the fund structure, that involves CLI maintaining a 20% sponsor stake in CLARA II, making trail powerful alignment with investors and partners while fostering assert in fund administration.

Drawing on the operational prowess of The Ascott Cramped (Ascott), CLARA II aims to curate a portfolio of resilient and inexperienced-licensed lodging sources.

Furthermore, CLARA II has carried out its first close, garnering equity commitments from institutional investors spanning Europe and Asia, while the fund is poised to assemble two cornerstone sources.

The initial acquisitions encompass a 50% stake in the dynamic 308-unit lyf Bugis Singapore, positioned in Bugis and a 100% stake in the 200-unit lyf Shibuya Tokyo, positioned in Tokyo’s Shibuya district. About their date of opening, the lyf Bugis Singapore goes to be unveiled in mid-2024 and the lyf Shibuya Tokyo will commence in the 4th quarter of 2024.

“Combining CLI’s funding administration capabilities and Ascott’s expertise in operating lodging properties worldwide under our award-winning brands, we are well-positioned to enhance the expansion of our non-public funds. – Mr Kevin Goh, Chief Govt Officer for CLI Lodging and Ascott.

About the facilities, each and every lyf-branded properties intention shared areas, including coworking lounges and social kitchens. Furthermore, there’ll seemingly be tailor-made applications and facilities overseen by devoted Ambassadors of Buzz.

A week, the HON crew brings you an knowledgeable scrutinize at the field of hospitality. By turning into a member, you admire bag entry to to an entire ecosystem: unfamiliar scream, jobs, and so on.

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