On December 12, Four Points by Sheraton Seoul Station, which is being sold by Macquarie Asset Management, selected KB Asset Management as preferred bidder. The bidding which occurred on December 6 saw competition between KB Asset Management, Hyundai Alternative Investment Management (HAIM), and the GIC-Blue Cove Asset Management partnership. Interviews were held on December 10, and KB Asset Management was selected as preferred bidder on December 12. KB Asset Management suggested a price of KRW 500 million per room for the 342-room hotel. This calculates to approximately KRW 170 billion, and with related fees, a total investment amount of KRW 190 billion. GIC Likely to Purchase Hotel in […]