<article>Hong Kong-based <a href="http://www.gawcapital.com/" target="_blank">Gaw Capital Partners</a> has acquired the 308-room,8800 square metre <a href="http://www.bighotel.com/" target="_blank">BIG Hotel</a> in Singapore in a transaction valued at S$203 million ($142.57 million).</article>

Hong Kong-based <a href="http://www.gawcapital.com/" target="_blank">Gaw Capital Partners</a> has acquired the 308-room,8800 square metre <a href="http://www.bighotel.com/" target="_blank">BIG Hotel</a> in Singapore in a transaction valued at S$203 million ($142.57 million).
Real estate services provider, JLL Hotels &amp; Hospitality Group, together with JLL Capital Markets Singapore, acted as exclusive advisers on the sale on behalf of ERC Unicampus.
Located in central Singapore, the boutique hotel &#8211; whose facilities include a restaurant, bar, gym, car park and convenience store &#8211; was originally an office building that was converted by its Singapore-based owner, ERC Unicampus, a unit of <a href="http://www.erc.com.sg/" target="_blank">ERC Holdings</a>. and opened in 2013. This is the first Singapore hotel acquisition for Gaw, a real estate private equity (PE) firm, according to JLL.
This is their second hotel purchase for the year, following the <a href="http://www.gawcapital.com/en/news/press-release" target="_blank">acquisition of Hong Kong&#8217;s InterContinental Hotel</a> in July this year, in a US$938 million deal. To date, this is the largest single hotel transaction in Asia Pacific. JLL also acted as an adviser on that deal, which also involved Supreme Key Limited, a unit of Pioneer Global Group
<a href="https://sg.linkedin.com/pub/mike-batchelor/28/286/4bb" target="_blank">Mike Batchelor</a>, managing director of JLL Hotels &amp; Hospitality Group in Asia, observed that BIG hotel is in a highly desirable location. This is due to its locatoin on a unique freehold land parcel, proximity to the Singapore downtown and business district, as well as its offering of &#8220;an innovative limited service boutique hotel concept with an existing strong trading performance&#8221;.
<a href="http://www.jll.com.sg/singapore/en-gb/people/96/anthony-bar" target="_blank">Anthony Barr</a>, regional director of JLL Capital Markets Singapore, said, “Singapore’s appeal as an investment destination remains strong with its stable political landscape and strong economic fundamentals. For this reason, we are seeing an increasing demand for Singapore properties from investors around the region, particularly those in Hong Kong.”
The purchase comes amidst <a href="http://www.chinamoneynetwork.com/2015/11/10/gaw-capital-seeks-1-5b-for-fifth-asian-real-estate-fund" target="_blank">Gaw raising a $1.5 billion real estate fund</a>, with a mandate for Asia but a focus on China.
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Hong Kong-based Gaw Capital Partners has acquired the 308-room,8800 square metre BIG Hotel in Singapore in a transaction valued at S$203 million ($142.57 million).

Gaw Capital Partners buys Singapore's BIG Hotel in $142.57m deal

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Gaw Capital Partners buys Singapore's BIG Hotel in $142.57m deal

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