SINGAPORE (Sept 21): GIC, Singapore’s sovereign wealth fund, is entering into a joint venture with Invincible Investment Corporation, a public hotel and residential J-REIT, to acquire Sheraton Grande Tokyo Bay Hotel for JPY100 billion (S$1.2 billion), with GIC having the majority stake of 51%.

Built in 1988, Sheraton Grande Tokyo Bay Hotel is a 1,016-room hotel which includes a 175-room Annex Tower opened in December 2016, located adjacent to Tokyo Disney Resort (TDR) and its largest “Official Hotel”, out of six such hotels.

Since its establishment in 1984, TDR has built a proven track record of growth, attracting over... (Click here to read the full story.)