Reading Time: < 1 minute Japan: CapitaLand Ascott Trust (CLAS) has divested its Citadines Karasuma-Gojo Kyoto in Japan to an unrelated third party for around JPY6.18 billion (S$53.1 million). The 124-unit property was divested at 40.1 per cent above book value at an exit EBITDA yield of about 0.3 per cent. Net proceeds of the divestment are JPY4.4 billion (S$37.8 million) and CLAS has recognised a net gain of JPY0.9 billion (S$8 million). Serena Teo, CEO of CapitaLand Ascott Trust Management Limited and CapitaLand Ascott Business Trust Management (the managers of CLAS), said: "The divestment of Citadines Karasuma-Gojo Kyoto is in line with CLAS' active portfolio reconstitution strategy. The mature property has reached the optimal stage of its lifecycle.