Two global law firms have led as a Singapore-based company becomes Australia’s largest serviced residence provider.
King & Wood Mallesons (
KWM) acted for Ascott Holdings, a subsidiary of Singapore Exchange-listed CapitaLand, as it acquired a 60% stake in Quest Apartment Hotels. The $193m cash deal makes Ascott, which now owns 80% of Quest, the largest serviced residence company in Australia.
The founders of Quest Apartment Hotels were advised by
Clayton Utz. Both law firms fielded teams of lawyers from multiple practice groups.
The KWM team was led by partner Adrian Perkins. He was supported by Kate Lindner, Daniel Dressler, Angus Morris, and Sam Monk.
Mergers and acquisitions partner Andrew Walker and senior associate Aimee Nguyen led the Clayton Utz group, which also included lawyers Tiffany Leach and Chris Fitzgerald.
Ascott now has a portfolio of more than 67,000 units in 507 properties located in 124 cities worldwide after getting a boost of more than 11,000 units following the Quest acquisition. Quest has 180 properties in both urban and regional locations in Australia, New Zealand, and Fiji.
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