Malaysia's Starhill REIT Eyes $411M Buy Of 3 Aussie Hotels

Law360, New York (June 13, 2012, 3:44 PM EDT) -- A Malaysian real estate investment trust on Wednesday announced an agreement to purchase three Australian hotels in the Marriott franchise in a AU$415 million (US$411 million) deal that it said nearly doubles the value of its portfolio.

Starhill Real Estate Investment Trust will take over the properties and business assets of the Sydney Harbour Marriott Hotel, the Brisbane Marriott Hotel and the Melbourne Marriott Hotel in a cash deal funded using both new debt and on-hand cash.

The trust did not spell out its financing breakdown....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.