Ascott Residence Trust purchased a 224 room hotel near New York’s Times Square in the Singapore-listed REIT’s third New York hospitality acquisition in under two years, according to an announcement today by Ascott Residence Trust Management (ARTML). Ascott REIT is buying the DoubleTree by Hilton Hotel New York, Times Square South for $106 million from a subsidiary of Rhode Island-based hotel investment and management firm Magna Hospitality Group.