Nippon REIT has agreed to buy two hotels, two office buildings and an R&D facility for a total of JPY 17.4 billion ($118 million) as the TSE-listed trust aims to improve the quality of its portfolio.
Headlining the batch of… Read More>>
Park Hotel Founder Allen Law Breached Fiduciary Duty, Singapore High Court Finds
Singapore’s High Court on Wednesday ruled that Park Hotel Management founder Allen Law had breached his fiduciary duty to the hospitality operator by transferring some of the firm’s assets to himself “at a gross undervalue”.
During the COVID pandemic, Park… Read More>>
TPG Angelo Gordon Fund, Wang On Buy Kowloon Hotel for $55M in Student Housing Play
A fund managed by TPG Angelo Gordon has teamed up with Wang On Properties to take advantage of Hong Kong’s cratering commercial property market by acquiring a hospitality asset in the city for conversion to student housing.
The US fund… Read More>>
CapitaLand Ascott Trust Selling Central Tokyo Hotel to Mizuho Leasing for $166M
CapitaLand Ascott Trust continues to make moves to enhance its portfolio, with the Singapore-listed lodging REIT announcing a deal Thursday to sell an ageing hotel in central Tokyo for JPY 25 billion ($166 million).
Japan’s Mizuho Leasing is buying the… Read More>>
Ichigo Hotel REIT Buying Two Japan Hotels for $38M
Japan’s Ichigo Hotel REIT has agreed to acquire a property in Okinawa and another on the western coast of Honshu island for a total of JPY 5.7 billion ($38 million).
The Tokyo-listed trust sponsored by Ichigo, the investment manager led… Read More>>
Rava’s Samty Reaches $391M Closing on First Japan Hotel Investment Fund
Just over a half-year after having been taken private in a transaction backed by Hillhouse Investment’s Rava Partners division and Daiwa Securities Group, Japanese real estate firm Samty Holdings has raised JPY 58 billion ($391 million) for its first dedicated… Read More>>
Tycoon Robert Kuok’s Daughter Named CEO of Shangri-La
Shangri-La Asia is appointing founder Robert Kuok Hock-nien’s daughter Kuok Hui Kwong chief executive of the hotel group, adding to her role as chairman, according to a filing this past week to the Hong Kong stock exchange.
Now 47, the… Read More>>
New World Seeks to Swap Office Floors for Hotel in Tsim Sha Tsui Project
As it struggles to refinance around $11 billion in debt amidst a declining property market, Hong Kong giant New World Development is reimagining a 28-storey commercial project in the heart of the city’s Tsim Sha Tsui tourist area.
After receiving… Read More>>
Alyssa Ties Up with Mitsubishi Unit to Buy Fukuoka Hotel From Morgan Stanley
The biggest city on southern Japan’s Kyushu island is the site of a major hotel deal with Alyssa Partners announcing the purchase of a 224 room property in central Fukuoka.
The investment manager partnered with Mitsubishi HC Capital Realty to… Read More>>
Amara Chairman Leads $392M Privatisation Bid for Singapore Hotel Group
Singapore’s Amara Holdings has received a buyout offer from parties led by the Teo family that controls the company, setting the stage for a deal that would value the SGX-listed hotel owner and operator at S$514.6 million ($391.9 million).
DRC… Read More>>
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