Trust set up to refinance Dorchester Pacific in 2010 sells final hotel

Wed, 11 May 2016

By Edwin Mitson May 11 (BusinessDesk) - Emerald Gisborne Property Trust, the hotel investor set up as part of the recapitalisation of the financier and insurer now known as Turners, says a deal to sell the Emerald Hotel in Gisborne has gone unconditional. The trust was formerly known as the Dorchester Property Trust and at the time of its establishment in 2010, owned four hotels estimated to be worth $33 million. The deal to sell the Emerald means that all of the hotels have now been sold. The only remaining assets in the trust is a pent...

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