At Valuation Percentage of Stapled Securityholders’ funds Description of Property Location Tenure of Land Term of Lease Remaining Term of Lease Stapled Group CapitaLand Ascott REIT Group Stapled Group CapitaLand Ascott REIT Group 2023 2022 2023 2022 2023 2022 2023 2022 2023 2022 $’000 $’000 $’000 $’000 % % % % Balance brought forward 4,592,243 4,258,909 4,944,831 4,597,836 105.5 107.3 133.9 133.4 United States of America Element New York Times Square West 311 West 39th Street, New York, New York 10018 Leasehold 99 years 89 years 90 years 169,064 204,884 169,064 204,884 3.9 5.2 4.6 5.9 Sheraton Tribeca New York Hotel 370 Canal Street, New York, New York 10013 Leasehold 99 years 89 years 90 years 188,667 202,358 188,667 202,358 4.3 5.1 5.1 5.9 voco Times Square South 343 West 36th Street, New York, New York 10018 Freehold Not applicable Not applicable Not applicable 178,578 175,514 178,578 175,514 4.1 4.4 4.8 5.1 Paloma Kent(16) 1450 E Summit Street Kent, OH 44240 Leasehold 99 years 94 years 95 years 44,337 43,687 44,337 43,687 1.0 1.1 1.2 1.3 Paloma Raleigh 5701 Hillsborough Street, Raleigh, North Carolina 27606 Freehold Not applicable Not applicable Not applicable 89,086 87,302 89,086 87,302 2.0 2.2 2.4 2.5 Paloma University City 3600 Lancaster Avenue, Philadelphia, Pennsylvania 19104 Freehold Not applicable Not applicable Not applicable 80,176 83,961 80,176 83,961 1.8 2.1 2.2 2.4 Paloma West Midtown 800 Marietta Street NW, Atlanta, Georgia, 30318 Freehold Not applicable Not applicable Not applicable 154,787 149,098 154,787 149,098 3.6 3.8 4.2 4.3 Balance carried forward 5,496,938 5,205,713 5,849,526 5,544,640 126.2 131.2 158.4 160.8 (16) On 9 February 2022, the CapitaLand Ascott REIT Group acquired Paloma Kent from Residences at Kent State Property Owner, LLC, an unrelated third party. The valuation was based on direct capitalisation and discounted cash flow method. The accompanying notes form an integral part of these financial statements. PORTFOLIO STATEMENTS As at 31 December 2023 Overview Sustainability & Governance Leadership Portfolio & Performance Financial Statements and Other Information ANNUAL REPORT 2023 183
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