SAN FRANCISCO-An associate of the Government of Singapore Investment Corp. (GIC) is preparing for a potential battle with Winthrop Realty Trust and Paulson & Co. According to papers filed in a court, GIC has explained a $1.48 billion bid it has made to purchase the properties of the Paulson-Winthrop group.
The properties include Grand Wailea Resort Hotel & Spa in Maui, Hawaii and the Claremont Resort and Spa in Berkeley, California. The fund has already arranged $900 million in financing for the acquisition. For the full story, go to Wall Street Journal.
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