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Singapore's CDL to buy Brisbane's biggest hotel for $119m

Canada's Brookfield selling Sofitel property in Australian city

The landmark Sofitel Brisbane Central has has over 400 rooms. (Screenshot from Sofitel Brisbane Central's website)

CEBU, Philippines -- City Developments Limited (CDL), one of the largest real estate companies in Singapore, has agreed to buy the biggest hotel in the Australian city of Brisbane from Canada's Brookfield Asset Management.

In a statement, CDL said a joint venture equally owned by its Millennium & Copthorne Hotels and M&C New Zealand hospitality subsidiaries will pay 177.7 million Australian dollars (about $119 million) to acquire the landmark Sofitel Brisbane Central.

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