MA Financial (ASX:MAF) has exchanged contract to buy Hotel Brunswick and an adjacent property for $68 million.
Hotel Brunswick sits on the Brunswick River and will be acquired by an investment fund managed by MA Hotel Management.
This acquisition follows MA Hotel Management’s snap up of the Beach Hotel, Byron Bay in 2019. MA Financial, including its managed funds, have now invested over $170 million in two of the Byron Bay region’s iconic hospitality assets. A move demonstrating increased confidence of the area.
Shares in MA Financial (ASX:MAF) are trading 4.6 per cent higher at $8.84.