Deal activity: November 1-6, 2023

Silversea Investments is acquiring from Singapore’s CapitaLand Ascott Trust (CLAS) two mature hotels in Sydney – the Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Paramatta for A$109 million. CLAS said the two properties will be divested at about 5% above book value and net proceeds of the divestment is expected to be A$98 million. The exit yield is 4.4% and CLAS will recognize a net gain of A$14.2 million. The divestment of these two properties outside of central Sydney is part of our active portfolio reconstitution strategy. CLAS said it remains focused on assets that offer better yields and will further uplift the value for its portfolio.

To download our list of deals from the past week in Excel format, click here.