A Sydney project enlarges Brookfield’s Down Under logistics portfolio, with that story leading today’s headline roundup. Also in the news, Blackstone looks to refinance some of its AirTrunk-related debt and a convicted oil trader’s wife markets a Singapore mansion.
Hong Kong’s Fu Wah Group Buys Melbourne Park Hyatt for A$135m
A privately owned Hong Kong real estate developer added to the flood of Chinese money into Australia this week by picking up the Melbourne Park Hyatt Hotel for a reported A$135 million (US$119.78 million).
The five star hotel is located near Melbourne’s Parliament House at 1 St Andrews Place and was developed in 1999 by Lustig & Moar at a cost of $150 million. The sale involves both the 240 room Park Hyatt hotel and an adjoining commercial car park.