Silversea Investment Pty Ltd agreed to acquire COURTYARD® BY MARRIOTT® SYDNEY-NORTH RYDE and Novotel Sydney Paramatta from CapitaLand Ascott Trust for approximately AUD 110 million.

Silversea Investment Pty Ltd agreed to acquire COURTYARD® BY MARRIOTT® SYDNEY-NORTH RYDE and Novotel Sydney Paramatta from CapitaLand Ascott Trust (SGX:HMN) for approximately AUD 110 million on November 6, 2023. The divestment of Courtyard by Marriott Sydney-North Ryde and Novotel Sydney Paramatta is expected to be completed in 1Q 2024 and 3Q 2024 respectively. Part of the divestment proceeds will be used to partially finance CapitaLand?s acquisition of three prime lodging assets in London, Dublin and Jakarta.

CBRE Hotels? Michael Simpson and Vasso Zographou negotiated the transactions.