7 August 2013
Clifford Chance advises Toga Group on five hotel acquisitions in Australia
Sydney: Leading international law firm Clifford Chance has advised Australia's Toga Group on the A$183 million acquisition of five Australian hotels.
Toga acquired the hotels in Adelaide, Brisbane, Darwin and Sydney through its 50:50 international joint venture in hotel management and ownership with Singapore's Far East Orchard Limited.
Clifford Chance also advised Toga on the establishment of the joint venture in August 2013, a hotel ownership and management platform that operates more than 6,800 apartments and hotel rooms across Australia, New Zealand, Germany and Denmark.
The Toga Group develops hotels, residential apartments and mixed use projects including retail and commercial across Australia, New Zealand and Europe, largely under the Adina, Vibe and Travelodge brands. This is the third corporate transaction that the Sydney team has completed for Toga Group in recent years.
Far East Orchard Limited is a member of Far East Organization, Singapore’s largest private property developer, focusing on property development, hospitality real estate development and management and healthcare real estate.
Partner Lance Sacks led the Clifford Chance team advising the Toga Group, assisted by senior associate Kane Barnett and associates Owen Thomas and Matthew Morris. All are based in Sydney.