Jerry Schwartz pockets $150m from Sydney hotel
KSL Capital is paying $150 million for Chippendale’s Four Points by Sheraton.
The three year old hotel with 297 suites at 88 Broadway, near Central station, was listed four months ago.
Vendor Jerry Schwartz was represented by JLL Hotels & Hospitality’s Mark Durran (story continues below).
The US-based incoming owner holds the Baillie Lodges portfolio – with assets at Lord Howe Island, Kangaroo Island and Uluru; a Daintree Rainforest venue, Silky Oaks Lodge, is set to open in six months.
Equity firms were prevalent, but high net-worth foreign investors were less so – largely because they can’t travel here – according to The Australian, which reported the deal yesterday.
