Gilbert + Tobin has advised Starwood Capital Group on its financing provided to support Blackstone's acquisition of Hamilton Island, one of Australia's most iconic and fully integrated island resort destinations, and the largest acquisition of a hospitality asset in Australia in several years. Hamilton Island is a unique asset comprising a fully self-contained island resort ecosystem. The island encompasses five hotels, an airport, a marina, a golf course, multiple retail and food and beverage properties, various development lots and all core island infrastructure, including plant and equipment necessary for the day-to-day operation of the island. The fully integrated nature of the asset required a creative financing solutions to accommodate the breadth and diversity of the asset portfolio. G+T advised Starwood Capital on all aspects of the financing, including structuring the multi-property facilities, undertaking asset due diligence and supporting the broader acquisition process. The transaction was led by G+T's Real Assets team with the financing aspects led by Partner and Real Assets Co-Lead Stuart Cormack, with support from lawyers Natalie Ho, Brent Thompson and Luke Briscoe, and the asset and due diligence workstream led by Partner and Real Assets Co-Lead Ben Cosentino, supported by lawyer Morgan Foulsham. Stuart commented: |
Hamilton Island is unlike any asset we have worked on and it was a great opportunity to bring the full range of capabilities of the G+T Real Asset team to bear to finance a fully integrated island resort. It was a privilege to advise Starwood and support Blackstone on what will be an exciting new chapter for one of Australia's best-loved destinations. We can't wait to see what they do with it.
