The Hyatt Regency Auckland Hotel - the recipient of South Canterbury Finance's biggest individual loan and the subject of a Serious Fraud Office inquiry - has been sold for between $50m and $60m.
The identity of the buyer, and the total debt carried by the hotel – in addition to the $42.3m South Canterbury loan secured by second mortgage, first mortgages were held by Westpac and ASB – remains a mystery.
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