The transaction saw an ASX lister snap up a hotel in the Docklands district
Squire Patton Boggs (SPB) has helped to facilitate the first major hotel deal in Australia for the year as ASX-listed alternative asset manager MA Financial Group snatched up SGX lister Hiap Hoe Limited’s Four Points by Sheraton Hotel in the Docklands district of Melbourne.
The total consideration for the transaction came in at $96m. Following the acquisition, MA Financial will rebrand the Four Points by Sheraton Hotel as a Vibe hotel; TFE Hotels will operate the rebranded hotel.
Savills Hotels brokered the deal. The SPB team that worked on the transaction consisted of lead partners Mark Palermo and Mitch Reynolds (hospitality and real estate), Louise Boyce (tax), and Blake Di Virgilio and Mary Shaw (real estate).
Hiap Hoe, which trades on the Singapore Exchange, has a diversified portfolio that spans hospitality, retail, and commercial and residential assets. The group develops both luxury and mid-tier residential properties.
Hiap Hoe established the Four Points by Sheraton Hotel as part of its Melbourne Docklands development project in 2017.
