28 August, 2014

Ashurst advised Far East Hospitality Holdings Pte Ltd (Far East Hospitality), a subsidiary of Singapore-listed Far East Orchard Limited, on the acquisition of a 50% interest in a portfolio of property companies which own four hotel properties in Europe. Together with its joint venture partner, Toga Group, Far East Hospitality jointly acquired interests in a portfolio of companies from Toga Accommodation Fund (TAF). In addition, Far East Hospitality purchased a 50% interest in a separate portfolio of companies from Toga Group. The four hotels are located in Berlin, Frankfurt, Copenhagen and Denmark.

The Ashurst team was led by partners Peter Junghänel and Lars Jessen. Peter and Lars were assisted partners Klaus Herkenroth, John Stawyskyj, and Vivian Chang.

Commenting on the transaction, Ashurst’s managing partner in Asia, Matthew Bubb, said:

“We have seen substantial interest from Asian-based investors over the past 12 to 18 months in commercial and hospitality related real estate assets in both Europe and Australia. We are delighted to have advised Far East Hospitality on this significant transaction and to continue to support our Asian clients by being able to offer seamless advice globally as they expand their businesses offshore.”

 
Other parties involved included Bruun & Hjejle, providing Danish law advice, and ATOZ providing Luxembourg tax advice.

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