The Corporate and Financial Services practice group of Harry Elias Partnership LLP acted as counsel to the asset manager and its affiliates in their strategic joint venture acquisition of the hotel property known as Capri by Fraser Changi City (“Capri Hotel”) for a purchase price of approximately S$170 million. The team provided comprehensive legal support, including the negotiation, drafting and review of the joint venture agreements with upstream and downstream investors, as well as the asset management services agreements involving the asset manager. These agreements were pivotal in establishing a joint venture company for the entry into of a joint venture agreement with Heeton Holdings Limited to acquire Capri Hotel. Currently situated in Changi Business Park, Capri Hotel is ideally suited to serve business or leisure travellers from the nearby Changi Airport, especially with the airport’s upcoming Terminal 5. Partners Claudia Teo and Derick Ting led the transaction, ably assisted by Ng Guan Zhi (Associate).
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