NATIONAL Leisure and Gaming has completed the settlement of its $91 million acquisition of the Iris Group's leasehold hotel portfolio.
The Iris portfolio comprises nine western
In addition, NLG has bought the leasehold hotel businesses of the Moonee Beach Tavern in
The opportunity was sourced from NLG’s relationship with TW Hedley and The Hedley Leisure & Gaming Property Trust, who will be the lessor of the hotels.
NLG Chairman Sally Pitkin said the series of major transactions had expanded NLG’s portfolio to 39 hotels and more than 1000 EGMs.
The Iris settlement follows the settlement on June 22 2007 of NLG’s $80 million merger with the GSL Pub Operations Trust, part of the Grant Samuel Laundy Pub Fund, and the settlement on June 28 2007 of NLG’s $63.5 million acquisition of the Gaming Asset Management portfolio.
Australian Property Journal
