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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Stockland | ASX:SGP | Australian Stock Exchange | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.09 | 1.78% | 5.14 | 5.08 | 5.18 | 5.16 | 5.07 | 5.09 | 5,217,704 | 07:50:00 |
From Nov 2019 to Nov 2024
The hotel is being bought by Singapore's Frasers Centrepoint Ltd. (TQ5.SG), which this month bid 2.59 billion Australian dollars (US$2.43 billion) for Australian property company Australand Property Group., trumping an earlier offer from Stockland (SGP.AU).
The hotel, located in the heart of Sydney's central business district, has 436 rooms and 45 luxury suites.
LaSalle Investment Management didn't disclose the sale price in a statement Monday. The real estate investment manager, which has US$4.8 billion of assets under management in the Asia-Pacific region, bought the hotel in 2010 for A$130 million for its LaSalle Asia Opportunity Fund III.
"The divestment of Sofitel Wentworth comes at a time when hotels in Sydney boast some of the most attractive market fundamentals in the region, thanks to increasing inbound tourism and ongoing corporate demand," said Marc Montanus, a fund manager at LaSalle.
Write to Robb M. Stewart at robb.stewart@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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