KKR & Co. Inc.KKR's managed funds finalized the sale of a 16-hotel Japan portfolio to an institutional investor, a real estate transaction for KKR.
Singapore's sovereign wealth fund GIC Pte. has reportedly acquired 16 hotels in Japan operated by Marriott International for about ¥125B, or $800M. The deal follows KKR's announcement last week that its managed funds had finalized the sale of a 16-hotel Japan portfolio operating under the Four Points Flex by Sheraton brand to a leading global institutional investor. Bloomberg reported that GIC took over the mid-range hotel chain as part of Japan's latest high-profile real estate deal.
KKR & Co. Inc.KKR's managed funds finalized the sale of a 16-hotel Japan portfolio to an institutional investor, a real estate transaction for KKR.
Marriott International IncMarriott operates the 16 Japan hotels acquired by GIC, but the deal is a real estate transaction rather than a Marriott-branded development.
GIC acquired 16 Marriott-operated Japan hotels for about $800M, a real estate investment by the sovereign wealth fund.