Ascott, the wholly-owned serviced residence business unit of Singapore's CapitaLand, is acquiring a hotel and adjacent vacant residential property in Paris for about EUR 65 mln. Ascott plans to combine and transform the freehold properties into a serviced residence to be named Ascott Arc de Triomphe Paris. The transaction involves Ascott acquiring a 100% shareholding in SNC Costes K which owned the prime Hotel K and the vacant building.
Premium subscriber content – please log in to read more or take a free trial.
