Moelis Australia Limited (ASX:MOE) completes the acquisition of the Beach Hotel, Byron Bay for $104 million.
- The Beach Hotel is owned by a single purpose fund managed by MOE, and post acquiring the Byron Bay asset; the company offered existing clients an opportunity to invest in the fund.
- The high demand resulted in an early close of Fund subscription, which marked a full subscription.
- MOE’s specialist hospitality team- Moelis Australia Hotel Management (MAHM), has now taken over operating the venue on a day to day basis.
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