Fund flips NSW hotel after renovation
A trust controlled by MA Growth Ventures, a division of MA Financial, has sold a Bathurst hotel after three years and a refurbishment.
The MA Real Asset Opportunities Fund will end in the black – achieving $13 million, from a local operator, for 344 Stewart Street, on the corner of Brilliant.
It paid $7.2m in mid-2021.
Prior to then, the 50-suite Mantra Bathurst, on 4709 square metres, zoned General Residential, fetched $5.4m.
JLL’s Andrew Langsford brokered the latest deal (story continues below).
Following settlement, the MA Real Asset Opportunities Fund will hold nine assets.
“The sale of the Mantra Bathurst is the second realisation out of the MA Real Asset Opportunities Fund, which was established in November, 2020, to acquire opportunistic, defensive and income generating assets,” MA Growth Ventures investment director, Myles Gunter, said.
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