Sixteen Four Points Flex hotels change hands in Japan
GIC Private Limited has acquired 16 Four Points Flex by Sheraton hotels across 11 Japanese cities from KKR & Co. Inc. The HVS Asia Pacific Hospitality Newsletter for the week ending 25 September 2026 reports the transaction, and states that the individual assets were not disclosed. The portfolio sits in Greater Tokyo, Osaka, Kyoto and Fukuoka.
KKR built the portfolio from Unizo Holdings. The newsletter states that KKR acquired the core of it from the Japan-based company in 2024 during Unizo's restructuring, when it held 14 hotels with more than 3,600 keys across 10 cities. KKR then partnered with Marriott International to introduce the Four Points Flex by Sheraton brand, carried out renovations and repositioning, and expanded the set to the 16 assets now sold.
The operating structure stays in place. KJR Management, the Japanese asset manager KKR acquired in 2022, remains asset manager for the portfolio, and K+ Hospitality Management Co., Ltd. continues to operate the hotels.
A 243-key hotel inside the Myeongdong tower
The same digest carries a Seoul trade. Pebblestone Asset Management Co., Ltd. has signed a memorandum of understanding to acquire Hyde Park Myeongdong after its selection as preferred bidder, with an offer of approximately KRW 500 billion. The agreement carries no binding commitment, and the newsletter publishes no closing date.
The property is a mixed-use building at 84 Namdaemun-ro in Seoul's Jung District. HVS records approximately 26,700 square metres of gross floor area across 19 storeys above ground and three basement levels. The lower floors hold Apple Myeongdong and retail facilities. The upper floors hold the 243-key Stanford Hotel Myeongdong, listed with three food and beverage outlets, a fitness centre, a business centre and a laundrette. Dermatology and aesthetic medical clinics also sit in the building.
Mastern Investment Management and TPG Angelo Gordon developed the complex on the former KB Kookmin Bank headquarters site, and it completed in 2021.
The Pemberton goes to a living conversion
Shorea Capital Pte Ltd, backed by families related to Wing Tai Holdings Limited and Hwa Hong Corporation Limited and other Asian family offices, has acquired The Pemberton at 22-26 Bonham Strand in Sheung Wan, Hong Kong. The purchase marks Shorea's entry into the city's living sector.
The building is a 24-storey commercial property completed in 1990, with approximately 5,388 square metres of gross floor area on a 355 square metre site under 999-year leasehold tenure. Shorea plans to apply for conversion to high-quality living accommodation, with market sources indicating student housing. The Pemberton sits about 2 kilometres from the University of Hong Kong and within a one-minute walk of Sheung Wan MTR Station.
The newsletter records the building's own trading history. Pioneer Global Group, controlled by the Gaw family, sold it in 2017 to a company controlled by Octa Capital Partners Limited for HKD 1 billion. Receivers later sold it to Shorea Capital through a public tender.
The fields the digest leaves open
The Japan sale carries no capitalization rate, no per-key price, no financing rate and no completion date beyond KKR's own statement. KKR's announcement of the sale names no buyer and no price, and spokespeople for GIC and KKR declined to comment. The Seoul agreement carries no binding commitment. The Hong Kong building carries no price from either party, and market sources put it at approximately HKD 430 million to HKD 440 million.