Ascott acquires S$192m freehold serviced residence in Sydney
Move is part of its strategy to grow its fund management portfolio through private equity funds, joint ventures and listed hospitality trusts
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Singapore
THE Ascott has acquired a freehold serviced residence in the central business district of North Sydney, for S$192 million through the Ascott Serviced Residence Global Fund, its global fund with Qatar Investment Authority (QIA).
The acquisition is part of Ascott's strategy to grow its fund management portfolio through private equity funds, joint ventures and listed hospitality trusts, Ascott chief executive officer Kevin Goh said in a statement on Thursday.
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