Ascott Residence Trust (SGX:HMN) entered into conditional sale and purchase agreement to acquire Wildwood Lubbock for $70 million on September 9, 2021. The consideration is payable in cash. 1% of the consideration will be paid within 2 days from the execution of sale and purchase agreement and remaining upon completion. The transaction shall be financed from approximately SGD 150 million (approximately $110 million) proceeds of private placement launched on September 9, 2021 and debt financing. Completion is subject to and conditional upon, the fulfilment of the conditions precedent in the sale and purchase agreement and is expected to take place later in September, 2021. Ascott Residence Trust (SGX:HMN) completed the acquisition of Wildwood Lubbock from Crow Holdings Capital Partners, L.L.C. on September 22, 2021.