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mb-4"><div class="flex flex-wrap items-center pb-2 md:px-6 md:pb-4"><div class="font-base font-light uppercase font-poppins text-4xs tracking-[1px] text-gray-650" data-testid="article-kicker-component">HOCK LOCK SIEW </div><div class="ml-3 mr-2 font-poppins text-2xl font-light leading-normal tracking-[0.075rem] text-gray-650" data-testid="kicker-subscriber-label-separator">·</div><div class="font-base font-light font-poppins text-4xs tracking-[1px] text-gray-650"><span class="ml-1">SUBSCRIBERS</span></div></div><h1 data-testid="article-title" class="mb-2 font-lct text-4xl font-bold !leading-[1.3] tracking-[-0.045rem] text-gray-850 md:px-6 md:text-10xl">CapitaLand Ascott Trust’s divestments could help it buffer against higher-for-longer interest rate scenario</h1><p class="mb-6 mt-2 font-lucida text-xl tracking-[-0.075rem] text-gray-850 md:px-6 md:text-4xl md:leading-normal">It should seize opportunities available in market, as long as exit yields remain favourable</p><div class="mb-6 md:px-6 min-h-[50px] text-gray-850 mt-4 space-y-4 md:flex md:flex-wrap md:space-y-0" data-testid="article-authors-list-component"><div class="flex flex-row items-start justify-start gap-2" data-testid="byline-component"><div class="flex flex-shrink-0 flex-row items-center justify-start"><img class="rounded-full" src="https://cassette.sphdigital.com.sg/image/businesstimes/2d323c0747dff0d922212e38a4c7e700e1bf0696798328a7c52d482389247da1" alt="Jessie Lim" width="50" height="50"/></div><div class="flex flex-col flex-wrap pl-2"><div class="flex flex-wrap gap-x-1.5"><h4 class="align-middle font-poppins font-semibold text-gray-850 word-break text-base" data-testid="byline-name-component"><a class="!text-gray-850 hover:underline" href="/authors/jessie-lim" target="_blank">Jessie Lim<!-- --> </a></h4></div><div class="font-public-sans text-xs font-normal leading-6 text-gray-650"><span data-testid="article-published-time">Published <!-- -->Wed, Nov 13, 2024 · 05:00 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class="splide__slide"><div class="relative h-full"><div class="mx-auto aspect-3x2 w-full max-w-[1400px] bg-gray-250"></div></div></li></ul></div></div><div class="splide"><div class="splide__track"><ul class="splide__list"><li class="splide__slide"><div><div class="py-2 px-3 font-poppins text-xs text-gray-850 md:px-8">The proceeds of the sale of Citadines Mount Sophia Singapore will be going towards the S$146.4 million purchase consideration for lyf Funan Singapore. PHOTO: CLAS </div></div></li></ul></div></div></div><div class="body-content tracking-tighter mb-6 mt-4 font-lucida text-lg font-medium leading-normal tracking-[-0.05625rem] text-gray-850 antialiased md:px-8 md:text-xl" data-testid="article-paragraphs-component"><div class="relative [&>*:last-child]:relative [&>*:last-child]:after:absolute [&>*:last-child]:after:inset-0 [&>*:last-child]:after:bg-gradient-to-t [&>*:last-child]:after:from-white [&>*:last-child]:after:to-transparent mb-4 md:mb-6"><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">THE managers of CapitaLand Ascott Trust (Clas) have announced a flurry of divestments for the lodging trust in recent months.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">Most recently, Clas in October said that it will be selling the Somerset Olympic Tower Tianjin serviced residence in China for an undisclosed price to an unrelated third party. The transaction is expected to be completed in the second quarter of 2025.</p><p class="mb-4 md:mb-6 leading-8 -tracking-5%" data-story-element="paragraph" data-testid="paragraph-component">In the same month, it also announced two divestments in Japan: the<a href="https://www.businesstimes.com.sg/companies-markets/capitaland-ascott-trust-sells-citadines-karasuma-gojo-kyoto-6-2-billion-yen" target="_blank" rel="noopener noreferrer nofollow"> Citadines Karasuma-Gojo Kyoto serviced residence for about 6.2 billion yen</a> (S$53.1 million) and the Infini Garden rental housing in Fukuoka for 12.7 billion yen.</p></div><div class="mb-6 border-t border-gray-175"><section class="mx-auto my-4 w-full" data-testid="article-purchase-link-component"><section class="mx-auto flex w-full flex-wrap items-center justify-between gap-4 lg:gap-0 lg:px-3" data-testid="article-purchase-link-version-2-component"><p class="mb-0 font-public-sans text-xs tracking-normal">Copyright The Business Times. 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