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BRIEF-Folkestone ‍says acquires Sydney Airport Hotel for new fund​
October 11, 2017 / 10:37 PM / 11 days ago

BRIEF-Folkestone ‍says acquires Sydney Airport Hotel for new fund​

Oct 12 (Reuters) - Folkestone Ltd

* ‍Folkestone acquires Sydney Airport Hotel for new fund​

* ‍Folkestone Funds Management will be seeking to raise $50.0 million for offer​

* ‍Folkestone Sydney Airport Hotel Fund exchanged contracts for acquisition for $76.4 million (excluding transaction costs)​

* ‍Fund also secured $49.4 million debt facility from an Australian bank​

* For acquisition of hotel, fund secured underwriting commitments totalling $31.9 million, $15.0 million of which will be provided by Folkestone​ Source text for Eikon: Further company coverage: (bangalore.newsroom@thomsonreuters.com)

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