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Eureka Funds Management sells five properties
Two firms have advised on a $500 million hotel portfolio acquisition.
Felicity Nelson
Firms: MinterEllison (SB&G Hotel Group); Henry Davis York (Eureka Funds Management)
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Deal: SB&G Hotel Group acquired a hotel portfolio from Eureka Funds Management.
Area: M&A
Value: $500 million
Key players: MinterEllison’s team included: partners Joseph Pace (pictured), Peter Mitchell, David Eterovic, Adrian Varrasso, John Riley, Leon Levine and Bart Oude-Vrielink; senior associates Andrea Frank, Leigh Schulz, Clare O'Shea, Robert Yunan, James Hamblin and Tim Davey; special counsel Paul Washington and Sean Bradley; associate Esmond Prowse; and lawyer Hannah Dixon.
Henry Davis York’s lead partner was Andrew Steele.
Deal significance: The portfolio includes the Intercontinental Melbourne, Crowne Plaza Melbourne, Crowne Plaza Coogee, Crowne Plaza Canberra and Holiday Inn Potts Point.
SB&G Hotel Group is part of Salter Brothers, a financial services firm providing funds management, private wealth and corporate advisory services. The group has about $800 million of assets under management.
"SB&G Hotel Group, part of the Salter Brothers financial services firm, is an emerging entrant into the hotel market and now the largest owner of IHG-operated hotels in Australia,” said Mr Pace.
