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
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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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