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Hotel acquisition secures finance

Hotel acquisition secures finance

Hugo Thistlewod

Two firms worked on the $100 million acquisition of hotels and resorts across Australia, financed by St. George Bank.

Firms: DLA Piper (St. George Bank); Baker & McKenzie (Elanor Investors Group)

Deal: The property acquisition of six hotels and resorts across Australia by multi-asset managed Elanor Hospitality and Accommodation Fund, belonging to The Elanor Investors Group, has been financed by St. George Bank.

Value: $100 million

Area: M&A

Key players: DLA Piper banking and finance partner Hugo Thistlewood (pictured) led the legal team advising St. George Bank, which included senior associate Sarsha Housham and solicitor John Flynn. Senior associate Eddie Ahn provided tax advice; real estate advice was dispensed by partner Astrid Beemster and solicitor Daniel Dimock.

Baker & McKenzie Real Estate Special Counsel Rahul Parrab led the team advising Elanor Investors, supported by Real Estate Special Counsel David Jones, Corporate & Funds partner Steven Glanz and Special Counsel Hai Dang Nguyen.

Deal significance:

The properties acquired by Elanor Hospitality and Accommodation Fund are the iconic Peppers Cradle Mountain Lodge in Tasmania, Best Western Tall Trees in the ACT, and from NSW Best Western in Port Macquarie, Mantra in Wollongong, Mantra Pavilion in Wagga Wagga and Parklands Resort in Mudgee.

“Our team worked hard to ensure this integrated transaction was completed successfully,” Mr Thistlewood said.

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