Ascott Residence Trust (SGX:HMN) entered into an agreement to acquire Raleigh Property for $64 million on December 27, 2021. In a related transaction, Ascott Residence Trust agreed to acquire The Link University City for $65.5 million, Uncommon Wilmington for $54 million and Latitude at Kent for $29.5 million. Pursuant to the terms, 1% of the purchase price was paid on execution of agreements granting access to the properties and commencement of due diligence. A further 1% of the purchase price will be paid within 2 days from execution of the agreements. The remainder of the purchase price will be paid at completion. The transaction will be financed from debt and proceeds from the private placement of 152,594,100 new stapled securities in Ascott Residence Trust which raised gross proceeds of SGD 150 million ($110.5 million). The transaction is subject to completion of acquisition of Wilmington Property and Philly Property. The transaction is expected to complete in December 2021.