Thailand Dealbook: Supalai set to expand in Australia; Destination Capital seeks to acquire hotel assets

Bangkok, Thailand. Photo: Jakob Owens/unsplash

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.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.