Nikkei Reports GIC to Acquire Real Estate Portfolio from Seibu Holdings
Posted on 02/05/2022
Seibu Holdings, Inc. is in key talks with Singapore’s GIC Private Limited, a sovereign wealth fund. GIC is looking to acquire around 30 properties in Japan in deal worth about 150 billion yen (US$ 1.3 billion), according to Nikkei. GIC has been a long-time investor in Japanese real estate.
Some of these properties include, The Prince Park Tower Tokyo, Prince Hotel Sapporo, and Grand Prince Hotel Hiroshima. Seibu Holdings will continue to run the properties after the deal.
Prince Hotels is a subsidiary of Seibu Holdings.
Credit Nikkei: https://asia.nikkei.com/Business/Travel-Leisure/Japan-rail-group-Seibu-to-sell-hotels-assets-to-Singapore-s-GIC
