Boutique hotel in Downtown Core sold for $203m
BIG hotel was bought by Gaw Capital Partners.
Gaw Capital Partners has acquired the 308-room BIG hotel in Singapore for S$203 million (US$143 million).
This is the first Singapore hotel acquisition for Gaw, a Hong Kong-based real estate private equity firm.
It is the firm’s second significant hotel purchase in 2015, after the purchase of InterContinental Hong Kong for US$938 million in September.
The sale was facilitated by JLL Hotels & Hospitality Group with JLL Capital Markets Singapore on behalf of the owner, Singapore-based ERC Unicampus.
The 8,800 square metre (94,657 square foot) BIG hotel is located in central Singapore. Originally an office building, it was converted by ERC Unicampus and opened in 2013. Facilities include a restaurant, bar, gym, car park and convenience store.
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