The Ascott Group's (Ascott's) latest collaboration with longstanding partner, Mitsubishi Estate Co Ltd, sees its portfolio in Japan increase to three properties.

Ascott has signed a Memorandum Of Understanding to acquire a prime site in the busy business cum shopping and entertainment district of Shinjuku and will hold a 40% equity stake in the property.

The first Citadines in the Group's portfolio in Japan, Citadines Tokyo Shinjuku is a 160-unit serviced residence located in the heart of Tokyo's most popular district and is close to the Marunouchi and Toei Shinjuku train stations. Scheduled to open in the first half of 2009, the serviced residence will feature studio and one-bedroom units.

Citadines Tokyo Shinjuku complements the stylish Somerset Azabu East and elegant Somerset Roppongi, both of which are close to the business and shopping district and are spacious and well-equipped, with each property boasting a wide range of facilities and services.