Singapore May Take Minority Stake in La Jolla Hyatt

If a joint venture agreement becomes final in the third quarter, as expected, a real estate investment company connected to Singapore’s government will become a minority owner of the posh, 419-room Hyatt Regency La Jolla at Aventine, according to the San Diego Business Journal.  Strategic Hotels & Resorts of Chicago announced recently that it has entered into an agreement with GIC Real Estate Pte. Ltd., the real estate investment company of the Government of Singapore Investment Corp. Pte. Ltd., to acquire a 49 percent interest in two of Strategic’s hotels, the Hyatt Regency La Jolla and 792-room InterContinental Chicago. The transaction is valued at $450 million.