MindWorks Properties and Hines acquire Hong Kong Hotel
MindWorks Properties, a Hong Kong based real estate firm, in partnership with Hines, on behalf of its Pan-Asia fund Hines Asia Property Partners, have acquired the Butterfly on Prat Hotel in Hong Kong.
The hotel will be transformed into a co-living flagship managed by Dash Living, Hong Kong’s largest operator of urban professional housing.
There has been growing demand for co-living among young professionals in Hong Kong, partly driven by the city’s soaring property prices and limited institutional rental options. Rebranded Dash Living on Prat, the 158-room hotel will be renovated by mid-2022 into a premier co-living complex that features a new design alongside community amenities and programming, providing an alternative living solution for millennials and young professionals. Located in Tsim Sha Tsui, one of Hong Kong’s most dynamic districts, Dash Living on Prat offers easy access to various transport links, shops and restaurants, as well as prominent landmark