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Baker & McKenzie Advises On Sale Of Sheraton On The Park, Sydney.

24 November, 2014

 

Baker & McKenzie has acted on one of the largest Australian real estate transactions this year, the AUD 463m sale of the Sheraton on the Park hotel on behalf of US-based Starwood Hotels and Resorts to China’s Sunshine Insurance.

 

Starwood has entered into a long term management agreement with Sunshine Insurance, which has committed to additional material financial investment to further enhance the Hotel.

 

The deal team was led by Sydney Partners Graeme Dickson and David Jones.

 

Graeme Dickson “This has been a mammoth transaction the sheer complexity of which will be difficult to describe to anyone outside the deal teams. What impressed me most is the degree of respect and friendliness which was evident at every stage. This bodes well for the long term relationship that the parties have embarked upon.

 

David Jones “We are delighted to steer this deal to a close for our client, Starwood Hotels and Resorts. It is a very significant transaction in Australia and for our client globally, and part of a growing trend of investment by sophisticated Chinese companies in significant real estate assets in Australia and across the globe.”

 

Conventus Law

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