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Report: Brookfield Property's Australian hotel sold to iProsperity


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Report: Brookfield Property's Australian hotel sold to iProsperity

Investment firm iProsperity has acquired the Pullman on the Park hotel in Melbourne that was placed on the market by Brookfield Property Partners LP in February for more than A$200 million, The Australian Financial Review reported.

The price was not disclosed for what the publication reported is one of the biggest hotel deals of 2018. Citing unnamed insiders, the Sept. 5 report added that the final selling price was roughly A$200 million, while others suggested that it fetched closer to A$155 million.

Since being placed on the market, the AccorHotels-managed asset drew interest from Blackstone Group LP and Starwood Capital Group, among others, with iProsperity reportedly becoming involved in July.

The reported buyer invests on behalf of ultra-high net worth Asian investors.

The 419-room property also features conference facilities, a 1,000-person ballroom and parking for 215 parking spaces.