Business
Iris Capital sets record with $45m pub deal – Sydney Morning Herald
The acquisitive Iris Capital has added to its hospitality stable, paying a record price for a Southern Sydney property, as heavyweight investors target premium…
Merivale boosted its portfolio last month paying $32 million for the Duke of Gloucester hotel in Randwick. Iris Capital, led by Sam Arnaout, also recently bought iProsperitys distressed portfolio of 17 Ibis hotels from AccorInvest for $180 million.
Im delighted to have purchased the Narwee Hotel from the Ryan family, and recognise the significance of selling a business having owned and operated it since 1987, Mr Arnaout said.
The sale process was clinical, and the impressive presentation and positioning…
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