China’s Anbang has agreed to sell a U.S. hotel portfolio for more than $5.8 billion even as an individual had secretly created a series of fake deeds
A Chinese insurer has agreed to sell a luxury hotel portfolio for more than $5.8 billion, overcoming an unusual stumbling block: A California individual secretly created a series of fake deeds to transfer ownership for up to a half-dozen of the hotels.
Mirae Asset Global Investments, part of a South Korean financial-services company, agreed this week to buy the 15-hotel portfolio from Anbang Insurance Group Co., say people familiar with the matter. Mirae prevailed in a process that began early this year and attracted widespread...
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