Singapore’s sovereign wealth fund, GIC, has entered into a deal to acquire a 35% stake in Hotel Investment Partners (HIP), a Spanish hotel group, from Blackstone Group.
The transaction, valued at over €4 billion, is expected to provide the necessary capital for HIP to expand its operations during a time of rising borrowing costs.
The decision to raise additional equity comes as real estate investors face higher borrowing costs due to an environment of increased interest rates. In fact, just last week,
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