April 23, 2024

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[THE INVESTOR] Korean securities firm Mirae Asset Daewoo has invested 110 billion won (US$98.23 million) in the luxury Four Seasons Resort Hualalai in Hawaii, according to industry sources on August 20. 

Earlier this year, Mirae decided to take over the loan of 110 billion won in the resort owned by MSD Capital and Lake Avenue Investments through refinancing. MSD Capital is an investment vehicle of Dell founder Michael Dell and family. 

Four Seasons Resort Hualalai

Mirae will inject 40 billion won through its overseas office, while the remaining 68 billion won will be financed by the recently established Inmark US Wholesale Property Trust No. 16. The fund, with a seven-year due date, is expected to have 6 percent to 7 percent return rate, according to Mirae Asset. 

The brokerage firm expects its latest investment in the 243-room luxury hotel will create synergies with its other properties on the island. In 2015, it purchased Fairmont Orchid Hawaii for 240 billion won, followed by Hyatt Regency Waikiki for 900 billion won a year later. 

It has been ramping up real estate investments around the world, with its portfolio including cities like Seoul, Shanghai, Sydney, San Paulo, London, Chicago and Washington, D.C.

By Ahn Sung-mi (sahn@heraldcorp.com)