Abu Dhabi Sovereign Fund Purchases TAHL
Recently, Norway’s sovereign wealth fund purchased a 45% interest in the Times Square Tower for US$ 684 million. Heading to Australia, the Abu Dhabi Investment Authority (ADIA) made a AUD 800 million acquisition of Tourism Asset Holdings Limited (TAHL). TAHL has a portfolio of 31 properties. The deal was managed by Macquarie Capital. The discreet sales process was marketed to public investors including sovereign wealth funds.
Our previous article, The Abu Dhabi Investment Authority is a Buyer of Hotels, highlighted ADIA’s appetite for hotel properties.
The French hotel chain Accor will continue to operate the hotel portfolio.
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