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Chinese Tycoon Is Said to Near $800 Million U.S. Hotel Purchase

  • Junson plans purchase of U.S. hotel portfolio from MassMutual
  • Family office could announce agreement in next few weeks

Chinese real estate tycoon Cai Kui’s family office is in advanced talks to buy a U.S. hotel portfolio from MassMutual for as much as $800 million, a person with knowledge of the matter said.

Hong Kong-based Junson Capital, which manages the wealth of the Longfor Properties Co. co-founder, plans to buy seven to eight hotels from MassMutual, according to the person. The assets are mostly boutique hotels, as well as a few resort properties, said the person, who asked not to be identified as the information is private.