Kuala Lumpur, 5 December 2024: Pavilion Real Estate Investment Trust (Pavilion REIT) has announced the proposed acquisitions of two prestigious hospitality assets in Kuala Lumpur, the Banyan Tree Kuala Lumpur (BTKL) and Pavilion Hotel Kuala Lumpur (PHKL), in a landmark deal worth RM480 million.
MTrustee Berhad, acting for and on behalf of Pavilion REIT, entered into conditional sale and purchase agreements with Lumayan Indah Sdn Bhd for the acquisition of BTKL at a purchase consideration of RM140 million, and with Harmoni Perkasa Sdn Bhd for the acquisition of PHKL at a purchase consideration of RM340 million.
