Posted on 07/23/2021
Partners Team AG, on behalf of its consumers, alongside with Singapore’s GIC Private Confined and Australian hospitality operator Salter Brothers, obtained a portfolio of eleven Travelodge inns in Australia with a gross asset worth of A$ 620 million. The sellers are Mirvac and NRMA that held the portfolio in equal proportions via Seller Tucker Box Hotel Team (Tucker Box Lodge Believe in). The portfolio has properties in Sydney, Melbourne, and Brisbane, and is made up of more than 2,000 rooms. All of the resorts in the portfolio are leased to Value Lodging Pty Restricted, a subsidiary of intercontinental lodge group TFE Lodges.
Partners Group was encouraged by Clifford Likelihood and Ernst & Youthful. Vendor Tucker Box Resort Group was encouraged by McVay True Estate and Credit history Suisse.
The deal was announced on December 7, 2020, but took some time to close. KSL Funds Companions tried using to bid for the properties.
Yard Metropolis, Brisbane
South Lender, Melbourne
Travelodge Perth, Perth
Martin Area, Sydney
Manly Warringah, Sydney
Macquarie Nth Ryde, Sydney
Keyword phrases: NRMA Insurance policies (Countrywide Streets and Motorists’ Association Limited).