The Bouwinvest Asia Pacific Mandate has invested USD 75 million in the CapitaLand Ascott Residence Asia Fund II (CLARA II), a private fund managed by CapitaLand Investment Limited (CLI). The investment strategy focuses on furnished serviced accommodation and co-living concepts in gateway cities within developed markets in the Asia Pacific region, including Japan, Singapore, South Korea, Australia and Hong Kong.
The fund is pursuing a value-add strategy, which will focus specifically on the transformation of well-located but ageing or underperforming properties. These can be hotels, offices or residential buildings in major cities, such as Tokyo, Osaka, Singapore or Seoul. In addition, CLI is committed to achieve high ESG-related KPIs, such as GRESB rating, green certification and ESG reporting. CLARA II leverages the global operating expertise of The Ascott Limited (Ascott), a lodging business unit wholly owned by CLI, to manage its quality portfolio of resilient and green-certified lodging assets, further creating value for its investors.
Source: press release sent 18 March 2024