FLK folkestone limited
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News: FLK Folkestone says acquires Sydney Airport Hotel for new fund

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    12/10/17
    09:40
    Post #: 27844860

    Oct 12 (Reuters) - Folkestone Ltd (FLK)

    • Folkestone acquires Sydney Airport Hotel for new fund
    • Folkestone Funds Management will be seeking to raise $50.0 million for offer
    • Folkestone Sydney Airport Hotel Fund exchanged contracts for acquisition for $76.4 million (excluding transaction costs)
    • Fund also secured $49.4 million debt facility from an Australian bank
    • For acquisition of hotel, fund secured underwriting commitments totalling $31.9 million, $15.0 million of which will be provided by Folkestone
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