• Ascott links with Quest

Serviced apartment specialist Ascott has signed a strategic partnership with Quest, Australia’s largest provider in the sector. Ascott will invest up to AUD500m to acquire new properties in Australia, that Quest will then manage.

Ascott will also acquire a 20% stake in Quest, paying AUD28.8m, with an option to increase the stake to 30%. Separately, Ascott’s Reit will acquired three properties in greater Sydney from Quest, for a consideration of AUD83m.
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