CapitaLand Ascott Trust seals $134m Coliwoo Midtown acquisition

The deal is expected to close in the fourth quarter of 2026.

CapitaLand Ascott Trust (CLAS) has agreed to acquire Coliwoo Midtown in Singapore for $134m.

The acquisition will be funded using proceeds from the divestment of The Robertson House by The Crest Collection (TRH) in Singapore.

Based on FY2025 pro forma figures, the property has an EBITDA yield of 4.1%, compared with TRH's 2.3% exit EBITDA yield.

CLAS said the acquisition is expected to increase its pro forma distribution per stapled security (DPS) by 2.4%.

The property is also expected to contribute to distribution income immediately after the transaction is completed.

The deal is expected to close in the fourth quarter of 2026.

Upon completion, CLAS will enter into a 10-year triple-net master lease with Coliwoo Midtown Pte. Ltd.

The lease includes fixed rent with annual rent indexation.

According to Serena Teo, CEO of CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management Pte. Ltd., the acquisition will increase the share of CLAS' living sector assets to 19.5% of its total portfolio value.

“This will bring us closer to our medium-term target asset allocation of 25% to 30% in the living sector, with the remaining in hospitality assets,” she added.

Coliwoo Midtown reopened in March 2026 following refurbishment. The property recorded an average occupancy rate of close to 90% in July 2026, around four months after reopening.

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