It’ll pay LaSalle Asia Opportunity II SARL $260m for the hotel
Bursa-listed TA Enterprise Berhad has agreed to buy the Swissotel Merchant Court Singapore for about $260 million from the LaSalle Asia Opportunity II SARL.
The acquisition price works out to about $546,200 per room.
The 476-room hotel is on a site with a remaining lease of about 84 years.
The hotel will continue to be managed by Swissotel, part of Fairmont Raffles Hotels International.
Jones Lang LaSalle Hotels is said to have brokered the sale.
The $260 million cash consideration for the sale comprises the agreed value for the property of $250 million and a $10 million adjusted Continue reading
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