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Iris Capital makes ‘largest’ hotel transaction for 2020
In what’s being described as 2020’s largest hotel transaction, Gilbert + Tobin has advised Iris Capital on an acquisition of 17 ibis hotels.
Emma Musgrave
Firm: Gilbert + Tobin (Iris Capital).
Value: $180 million.
Area: M&A.
Key players: The team advising Iris Capital was led by Gilbert + Tobin real estate and projects partner Amanda Hempel, with support from special counsel Jo Bayes and lawyers Isabelle Wong and Sara Ayoub.
Deal significance: The transaction sees Iris Capital acquire a portfolio comprising 17 hotels with 1,797 rooms, including the ibis Sydney Airport, ibis Budget Sydney Olympic Park, ibis Hotel & Apartments Melbourne, ibis Budget Brisbane Airport and ibis Newcastle.
The transaction has increased Iris Capital’s hotel portfolio to 45 and cemented its position as one of the largest accommodation hotel owners in Australia, according to a statement from G + T.
“This transaction highlights the team’s continued success in providing our clients with commercially astute and responsive advice, and we are very pleased to have helped Iris with this transaction,” added Gilbert + Tobin real estate and projects partner Amanda Hempel.
Emma Musgrave
Emma Musgrave (née Ryan) is the managing editor, professional services at Momentum Media.
Emma has worked for Momentum Media since 2015, including five years spent as the editor of the company's legal brand - Lawyers Weekly. Throughout her time at Momentum, she has been responsible for breaking some of the biggest stories in corporate Australia. In addition, she has produced exclusive multimedia and event content related to the company's respective brands and audiences.
Prior to joining Momentum Media, Emma worked in breakfast radio, delivering news to the Central West region of NSW, before taking on a radio journalist role at Southern Cross Austereo, based in Townsville, North Queensland.
She holds a Bachelor of Communications (Journalism) degree from Charles Sturt University.
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