Announcing the Successful close of Aura Conduit House Hospitality Fund I

Aura Group and Conduit House are pleased to announce the successful close of the Aura Conduit House Hospitality Fund 1 and investor sidecar into a USD$60 million structured credit investment into Tantakitt Company Limited (“TCL”) for the renovation, repositioning and build-out of the iconic Montien Hotel Bangkok.

The Montien Hotel Bangkok is located in a prime address in Silom, opposite Patpong’s famous night market, a pre-eminent entertainment and commercial district of Bangkok. Originally opened in 1967 as Bangkok’s first international standard 5-star full-service hotel, The Montien Hotel Bangkok established itself as an iconic landmark and hospitality leader, famous for Thai hospitality and service, and dining experiences.

The Montien Hotel Bangkok will undergo a major renovation, the “revival of the Original”, mixing modern Thai hospitality with the authentic experience and history for which The Montien Hotel Bangkok is famous.

The mixed-use project includes extensive refurbishment and repositioning of The Montien Hotel Bangkok’s 500 rooms, construction of a 179-room serviced apartment and hotel, repositioning of an independent heritage-listed neighbourhood retail mall, the introduction of destination dining and bars, and market-leading integrated banquet and MICE space. Engaging their complementary capabilities to deliver a bespoke hospitality solution for the financing, renovation works and repositioning, Aura Conduit House Hospitality Fund 1 assembled, structured and led the financing consortium, which included multiple institutional investors.

“We feel honoured to be involved in such an iconic and landmark project. Conduit House was able to deploy its integrated platform capability across asset management, technical services and investment.  The project presents a real showcase of Conduit House’s multi-disciplinary capabilities and the benefits of operating,” said Grant Healy, Chief Executive Officer of Conduit House.  “Aura Group offered a complementary set of capabilities and was an ideal partner for us on this project.  We look forward to working with Aura Group going forward.”

 “Aura Group is very pleased to be able to work with Conduit House to develop a comprehensive capital solution for TCL and the Montien Hotel Bangkok.  The investment demonstrates Aura Group’s ability to deliver bespoke financing solutions and our regional capabilities.  We are excited to continue working with Conduit House,” said Calvin Ng, Aura Group co-founder.

Project renovations and construction are set to continue through this year amid the backdrop of the COVID-19 outbreak. “The prime location and mixed-use nature of the asset underpin long-term fundamentals, alongside resetting The Montien Hotel Bangkok as a destination for both the domestic market and tourists” commented Martin John Vagulans, Managing Director of Investments at Conduit House.

The project reflects Aura Group’s ongoing expansion into Asia Pacific and is Aura Group’s second hotel project following the successful exit of the Vibe Hotel Darling Harbour for $108 million, in the “biggest Australian Hotel deal of the year” according to the Australian Financial Review. To hear more about other real estate opportunities at Aura Group, please express your interest below.

The minimum investment for Aura Group Funds is A$500,000 or A$100,000 for wholesale and sophisticated investors as defined by the Corporations Act 2001.

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