CapitaLand (CAPL) acquires US$835m (S$1.14b) US multi-family portfolio of 3,787 multifamily apartments (average price: US$220,000/unit) across suburban communities in Seattle, Portland, Greater Los Angeles and Denver. The acquisition is in-line with CAPL’s strategy to diversify outside Singapore and China to developed markets and to grow new businesses. CAPL also anticipates value enhancement to the properties. The consideration would be funded by CAPL’s internal resources. Pro-forma impact to EPS and NAV/sh is not expected to be material. Potential upside from the portfolio growth include the option to spin off the assets into investments vehicles and partnerships, and also to build the business into other markets such as China. Separately, CAPL had also announced that its wholly-owned serviced residence SBU, The Ascott Limited, had invested US$26m (S$35.7m) for a 70% stake in TAUZIA Hotel Management, which marks Ascott’s first major move into the lodging segment beyond its core serviced apartment business and existing business in apartments for corporate lease ...  ...