Dentons Hong Kong has advised China Merchants Commercial Real Estate Investment Trust (SEHK: 1503) on its HK$206 million acquisition of Hmlet Austin Avenue (now known as Habyt Austin Avenue), a 19-storey boutique hotel, located at No.2 Austin Avenue, Tsim Sha Tsui, Kowloon.
The acquisition and the subsequent conversion of the property into a student hostel aim to meet the surging demand from non-local students and increase the availability of student housing near urban areas where higher education institutions are located.
The Dentons Hong Kong team was led by corporate partner Stephen Chan and supported by managing associate Emily Chow.
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