Hyatt Place Raleigh-Durham Airport. (Photo: ARA US Hospitality Trust)Hyatt Place Raleigh-Durham Airport. (Photo: ARA US Hospitality Trust)

ARA Asset Management has struck a deal to divest its ownership of ARA US Hospitality Trust’s (ARA H-Trust) sponsor to Acrophyte Asset Management and Acrophyte Limited.

The former entity is wholly owned by property tycoon Gordon Tang and his wife Celine Tang, while the latter entity (Acrophyte Limited) is owned by their children, Tang Jialei and Tang Jialin.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.