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Case Study | Le Hoteru: Brokerage

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Location (City)

Asset Type

Transaction Date

Size (Sqm)

Value (USD)

Kai Tak

Hotel
22 July 2021
2,726.6

48.72 million

 

Buyer: Weave Living

Seller: Yeung Family

Services provided: Brokerage

 

The Challenge

The acquirer had indicated an interest in the asset since 2020, and they were keen to acquirer the asset at a bargain sale from the existing owners.

There was, however, a price expectation gap, with the owners of the asset, who were an ultra-high net worth family, and who were firm on their sale price.

Additionally, there were additional legal and financial hurdles during transaction discussions, that had to be overcome.

The Strategy

As the owner was firm on pricing and were able to hold onto the asset for the long term, Colliers worked with the acquirer to meet the minimum price set by the owners.

Based on in-depth studies on the location and the improving infrastructure improvements around the asset location, Colliers advised the acquirer on the potential and future returns of the asset.

The Solution

The acquirer eventually adopted a leveraged approach and partnered with Angelo Gordon as an additional investor, to allow them to meet their financial metrics

Colliers additionally worked with both the acquirer and the owner to ensure that all legal hurdles were crossed and that all parties were satisfied with the various arrangements made.

The Result

The Formal Sales and Purchase Agreement for the asset was entered into on 22 July 2021 and the sale was successfully completed on 31 August 2021.

 


"We are excited to work with Colliers again to complete our sixth property acquisition. Weave is committed to contributing the success of Hong Kong by creating accommodation which meets global standard. With this acquisition, we are set to provide residential options in the Kai Tak area to meet its growing housing demand."

Sachin Doshi, CEO, Weave Living


 

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相關專家

Thomas Chak

Executive Director

Capital Markets & Investment Services

香港

AREA OF EXPERTISE
Being an award-winning industry specialist, Thomas is highly regarded amongst his peers and clients with over 18 years’ property investment experience. The key client focus of Capital Markets remains institutional clients, local investors and developers, family offices and private high net worth individuals as well as PRC inbound capital. 

PROFESSIONAL ACCOMPLISHMENTS

Thomas develops and fosters partnership and consultancy based approaches to clients, resulting in improved profitability through high client retention rates and improved business profile. 

BUSINESS AND EDUCATIONAL BACKGROUND

Thomas has joined Colliers as Executive Director of Capital Markets in July 2019. In a way, this is a homecoming for Thomas as he was with Colliers’ Capital Markets team between 2006 and 2008.  Prior to joining back Colliers, he was with Knight Frank as Senior Director of Capital Markets, where he completed transactions of over HK$8 billion.   

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Stanley Wong

Senior Executive Director

Capital Markets & Investment Services

香港

Stanley is an industry-leading real estate professional with over 20 years’ experience working in Hong Kong’s property investment market. During this time, Stanley worked as an Executive Director and the former Head of Capital Markets for a competitor from 2012 to 2020 where he handled over HK$8-billion in transaction value

Stanley has a bachelor’s degree in Surveying and an MBA from the University of Hong Kong. Since completing his educational studies, Stanley has continued his professional development to become a member of the Hong Kong Institute of Surveyors and RICS.

Stanley’s transactional background and core skill set includes handling tenders and auctions for major assets such as retail podiums, enbloc buildings, development sites, major shopping centres, grade A offices and luxury residential. He also has experience on property acquisitions and disposal for major developers, investors and end-users in Hong Hong, as well as overseas institutional investors.

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林 嘯東

董事

Capital Markets & Investment Services

香港

Russell 在投資物業市場工作約10年, 主力處理香港的大手投資物業買賣, 前身亦具香港政府 地政處 經驗. 他處理過的投資物業買賣包括酒店,  貨倉, 住宅地盤, 商業裙樓以及全幢及散層寫字樓等等

在專業經驗方面, Russell 對經濟及金融 亦具有深入的認識. Russell 具財務及金融方面的專業資格, Russell 是一位 特許金融分析師及金融風險管理師

Russell 是特许金融分析师学院會員, 香港測量師學會 (產業測量組別) 會員,  香港註冊測量師 (產業測量), 全球風險專業管理協會會員, 以及一名持牌的香港地產 (個人) 代理. 

在工作以外, Russell 也熱愛高爾夫球運動

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