Frasers has sold the Sofitel Sydney Wentworth after seven years.
The deal, with New York based KKR in a partnership with Futuro Capital and Marprop, is worth $315 million.
The vendor held the property – built by Qantas in 1966 as Sydney’s first five-star hotel – in the Frasers Hospitality Trust.
It paid LaSalle Investment Management $234.55m.
That seller acquired it in 2010 from Tourism Asset Holdings for $130m.
At 61-101 Phillip Street, the 17-storey venue with 437 suites is expected to be refurbished with expanded food and beverage components (story continues below).
Accor, which took over the leasehold in 2002, is committed for 14 more years.
The deal comes 14 months since Futuro paid c$210m in two parts for a Melbourne CBD office – 235 Bourke St.
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