Scape co-founders Craig Carracher and Stephen Gaitanos have sold Hotel Hacienda, a 63-room hotel in Redfern, Sydney, for A$22 million ($15 million), according to Real Estate Source.
The five-story property, located at 179 Cleveland St., was acquired in 2020 for A$15.05 million ($10.54 million) by a consortium through Varsity Australia Investments Pty Ltd., backed by the Scape founders and several family investors.
The hotel occupies a 506-square-meter (5,447-square-foot) site and includes 63 studio rooms, a two-bedroom apartment, a ground-floor restaurant, a rooftop terrace and 12 basement parking spaces.
