Supalai PLC has invested $52.5 million in Australia-based property group Stockland’s newest master-planned community Katalia. In a separate development, Destination Capital is set to join forces with its capital partners to acquire, manage and rebrand hotel assets in the Asia-Pacific region.
Supalai invests $52.5m in Australia’s Stockland
Bangkok-listed Supalai PLC has invested $52.5 million in Australia-based property group Stockland’s newest master-planned community Katalia, taking a 50 per cent interest in the project.
The Katalia project, located in Melbourne’s northern growth corridor, will play a key role in the city’s future economic and employment growth and will be home to over 260,000 people over the next 30 years.
Stockland agreed to purchase the 89-hectare site in November 2019, for $105 million.
Under the current partnership, Stockland will continue to manage the community, and oversee the delivery of infrastructure, and receive an ongoing management fee from Supalai.
The Australian property group plans to develop approximately 1,500 affordable new homes at Katalia, a large recreation area and a school.
“Partnerships like this enhance our project returns and balance sheet capacity, to invest in other growth opportunities across our diversified portfolio including our workplace and logistics development pipeline, and further re-stocking our residential pipeline,” said Stockland CEO Communities Andrew Whitson.
Supalai is a residential and commercial developer listed on the Bangkok Stock Exchange with a market capitalisation of approximately AU$2 billion. The company was established in 1989, with its first investment in Australia in 2014.
Destination Capital to acquire hotel assets in Thailand, APAC
Bangkok-based private equity real estate investment and asset management company Destination Capital is set to join forces with its capital partners to acquire, manage and rebrand hotel assets in Thailand and across Asia-Pacific, according to an announcement.
The firm is looking to source assets that are expected to provide high yielding returns after renovation. Its focus is primarily on freehold hotels and resorts that have about 200 rooms in key urban and resort locations.
Over the next 18 months, Destination Capital will continue to source and acquire hotels and estimates that it will ultimately hold a portfolio of 12-15 four-star hotels with capital values ranging up to 1.5 billion Baht.
Destination Capital is part of Destination Group, which has a 24-year track record in Thailand of buying, repositioning, asset managing and selling hotels.
The firm partners with private equity and institutional funds to source hotel acquisition opportunities and asset management in the Asia Pacific region with an emphasis on Thailand.