SINGAPORE Hotel Plaza Limited has acquired the joint venture and loan interests of Singapore-based CapitaLand group in three Southeast Asian hotel assets. Jones Lang LaSalle Hotels acted as the property advisor on the deal, creating a structured solution to realize the value of the investments, located in the emerging markets of Myanmar, Vietnam and the People s Republic of China.
The portfolio of four- and five-star properties were acquired for approximately $82 million. They are comprised of the 359-room Yangon Equatorial in Myanmar, the 322-room Mertius Westlake in Hanoi and the 328-room Sheraton Suzhou. (5/1/01)