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GMAC Unit Sells 122-Room Hotel in Japan

OSAKA, JAPAN-A real estate private equity fund managed by investment bank Morgan Stanley acquires the Hotel Il Monte in Osaka from GMAC Commercial Holding Asia for an undisclosed sum.

By Brian K. Miller | Updated on August 25, 2003

OSAKA, JAPAN-The 122-room Hotel Il Monte in Osaka, Japan has been sold to a real estate private equity fund managed by investment bank Morgan Stanley for an undisclosed sum. Jones Lang LaSalle handled the disposition for GMAC Commercial Holding Asia.

The upscale limited service hotel is located in Osaka’s second largest business center and includes a retail component. It has been operated by Hotel & Associates, an experienced local operator in Japan.

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