Led by property veteran Greg Paramor, fund manager Folkestone is buying into the hospitality boom, snapping up a Sydney airport hotel for $76.4 million.
The acquisition of the Mercure Sydney International Airport Hotel is the largest single deal yet for Folkestone, which has launched a new fund to hold the asset.
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Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts. Connect with Nick on Twitter. Email Nick at nlenaghan@afr.com
