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GIC in another mega buy with US$909m Tokyo deal

It will take 51 per cent stake in Sheraton Grande Tokyo Bay Hotel in joint acquisition with Japan Reit

Published Thu, Sep 21, 2017 · 09:50 PM

Singapore

SINGAPORE'S sovereign wealth fund GIC has added to its investments in Japan by partnering Invincible Investment Corporation, a public hotel and residential Japan real estate investment trust (J-Reit), to acquire Sheraton Grande Tokyo Bay Hotel for about 100 billion yen (US$909.1 million).

GIC on Thursday said it would own the majority stake of 51 per cent in the hotel for US$463.6 million.

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