Pro-invest Group, in partnership with MEC Global Partners Asia, has acquired the Coogee Sands Hotel & Apartments, marking Pro-invest’s first urban accommodation asset. The property on Coogee Beach in suburban Sydney will be repositioned under Pro-invest’s own design-led accommodation brand, which is scheduled to be announced later this year. The brand will focus on amenity-driven urban accommodation in prime locations.
The property will undergo an adaptive reuse transformation into a contemporary accommodation offering with shared amenities. Pro-invest said the Coogee location aligns with its strategy because of the suburb’s beachfront setting and established community.
Pro-invest Group is a vertically integrated real estate and hospitality platform with about $3 billion in assets under management across Asia Pacific, Europe and the Middle East. The company said the acquisition represents an expansion of its urban accommodation strategy.
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