Sydney Fund Manager Acquires Quest Rockingham

Boutique funds manager Aligned Funds Management has made an off-market deal to purchase the Quest Rockingham for $22 million.

As reported in the Australian Financial Review, the hotel was acquired from the listed Diploma Group.

It is the fourth hotel acquisition since Aligned FM received a $250 million mandate to buy hotels in August. Including the Quest, Aligned now owns the Chifley Wollongong, Chifley Penrith and the Ibis Budget in Perth.

The hotel at 22 Flinders Lane, Rockingham, comprises 48 rooms, conference facilities, function rooms, gym, pool and 48 onsite parking bays.

Only recently opened, Aligned Executive Director Glen Boultwood told the AFR, "This property will fill a hole in the current hotel market, providing quality accommodation options in one of the state's most prominent regional locations.