AMTD IDEA acquires London office tower and Hornsey hospitality assets in ~$87.7m (£69m) deal

AMTD IDEA deepened its London presence by simultaneously acquiring a City office building at 40 Furnival Street (EC4A) for ~$24 million and finalising the acquisition of the Hornsey Town Hall mixed-use scheme (68-room aparthotel operated by Dorsett, arts centre and adjacent town hall) from Far East Consortium. FEC is financing 58% of the total consideration via a $51 million five-year loan, reflecting the continuing strategic partnership between AMTD and FEC. All three assets are charged as security for the loan. AMTD IDEA Group (NYSE: AMTD; SGX: HKB; Hong Kong-based financial services and real estate group; buyer); Far East Consortium International (HK-listed real estate developer; seller and lender through FEC Finance); Dorsett Hotels & Resorts (operator of Dao by Dorsett AMTD Hornsey). $51 million five-year term loan from FEC Finance Limited at 5% per annum, interest payable semi-annually. Secured against the office, hotel and town hall properties and shares of their operating companies.