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26 Feb 08
GIC Real Estate, the property investment arm of the Government of Singapore Investment Corp (GIC), will acquire The Westin Tokyo from Starwood Capital Group LLC and Morgan Stanley Capital KK for an undisclosed amount, the companies jointly announced on Tuesday.
The 438-room hotel with a five-star rating will continue to be operated by Starwood Hotels and Resorts under the Westin brand.
GIC currently manages assets worth over 100 billion dollars in more than 30 countries.
Singapore investment arm buys Westin Tokyo from Morgan Stanley, Starwood
26 Feb 08
A real estate investment arm of the Singapore government has bought the Westin Tokyo hotel from Morgan Stanley’s real estate fund and a Starwood Capital fund, the companies said Tuesday.
GIC Real Estate, a property investment arm of the Government of Singapore Investment Corp., purchased the central Tokyo hotel, in which the funds operated by Morgan Stanley and Starwood Capital Group invested in 2004, they said in a statement.
They declined to disclose the value of the transaction.