Queensland’s LM Investment Disposes More Serviced Apartment Investments

The LM portfolio sale comes four months after LM Investment sold levels two and seven of the building, totalling 30 serviced apartments, for a combined $5.87 million, again to a Chinese investor.
 
Jones Lang LaSalle’s selling agent Lachlan Thompson marketed the investments.
 
Almost all of the apartments within Mantra are managed by Stella Hospitality Group, which pays the apartment owners an approximate $330 per week, per room, while hoping to recoup an average of about $300 per night, from tourists to occupy them.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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