On Sep, 26 2025, CapitaLand Ascott Trust (HMN) announced that stapled securityholders have approved the divestment of its entire beneficial interest in Citadines Central Shinjuku Tokyo at an extraordinary general meeting in Singapore.

The ordinary resolution, treated as an interested person transaction, passed with 777.38 million votes (99.76%) in favour and 1.91 million votes (0.24%) against, comfortably surpassing the required simple majority.

The property will be sold to ML Estate Co., Ltd., the vehicle nominated by CapitaLand Japan Kabushiki Kaisha, which emerged as the highest bidder in a pre-qualified tender that attracted five bids. CapitaLand Ascott Trust purchased the 206-unit asset in 2014 for about 8.0 billion yen and it was last independently valued at roughly 12.5 billion yen as at Dec, 31 2024.

Management said the sale proceeds, after paying an estimated 34.0 million Singapore dollars in Japanese corporate and withholding taxes, will be used mainly to repay debt with an effective interest rate of 4.6% per annum, thereby lowering gearing and providing capacity for future acquisitions and asset-enhancement initiatives.