Successful completion of another major Sydney hotel transaction
JLL Hotels & Hospitality Group is pleased to announce the successful completion of the Four Points by Sheraton, Central Park – the largest single hotel asset sale to occur in 2021.
We would like to take this opportunity to thank our client Schwartz Family Company for entrusting JLL Hotels & Hospitality Group with this important mandate and congratulate KSL Capital Partners on acquiring this near-new major Sydney hotel asset in Australia’s most coveted hotel investment destination.
The 4.5-star hotel was sold subject to a management contract with Marriott and forms part of the award-winning Central Park mixed-use development. It is located close to a variety of demand drivers, including corporate occupiers, University of Technology Sydney and University of Sydney, Darling Harbour convention precinct and in close proximity to Sydney’s emerging Innovation and Technology Precinct around Central Station.
The successful transaction closing follows JLL’s recent sale of the Primus Sydney, as well as the Accor Invest Portfolio and Novotel Brisbane and reflects the diverse array of local and offshore capital currently seeking to deploy funds in investment grade hospitality assets.
For the real insights on this transaction or the current Australian Hotel Investment Market please contact JLL Hotel & Hospitality Group, the team closest to the market for major hotel assets.