CapitaLand Ascott expands Japan portfolio with 3 new rental assets

The transaction adds 233 units with 95% occupancy in Japan.

CapitaLand Ascott Trust (CLAS) purchased three rental housing properties in Kanagawa, Japan, for $38.3m (JPY4.6b) from Patience Capital Group.

The purchase includes Lime Residence Hiratsuka West, Lime Residence Hiratsuka East, and Live Casa Hiratsuka, according to a press release.

The properties reached completion between 2022 and 2024 and contain 233 units across the three assets. Occupancy is 95% with two-year lease terms, whilst the assets sit 30 minutes from Yokohama and 60 minutes from Tokyo by train.

On a financial year 2025 pro forma basis, the transaction has a 4.1% blended net operating income entry yield and a 0.2% accretion to Distribution per Stapled Security. CLAS used debt denominated in JPY for the funding.

Living assets constitute 17.5% of the CLAS portfolio value, with the trust maintaining a target of 25% to 30% for living sector assets and 70% to 75% for hospitality assets. CLAS holds 35 properties in Japan.

In October 2025, CLAS sold Citadines Central Shinjuku Tokyo for $222.7m (JPY25b). The trust is renovating Sotetsu Grand Fresa Osaka-Namba, with completion scheduled for the fourth quarter of 2026.

(JPY1 = SG$0.0084)

Follow the link for more news on

CapitaLand

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia