The acquisition structure of Four Points by Sheraton Josun Seoul Myeongdong, a deal set to close at the end of this month, is undergoing significant changes. IGIS Asset Management was initially selected as the preferred bidder by Pacific Investment Management in July. Pacific has partnered with Shinsegae Group’s Josun Hotel & Resort, which is currently responsible for leasing Four Points Myeongdong, to participate in the bidding and subsequently attracted the Canada Pension Plan Investment Board (CPPIB) as an investor. It was expected that the deal would be finalized by the end of this month, but about two weeks before the deal closing, some changes have been made. On […]