Thank you Tokyu: Tokyu Hotel property sold for $20 million

According to Journal sources the Tokyu Development Property the site of the old Tokyu Hotel located between the Pacific Islands Club and the Ypao Beach Park is in the process of being sold for about $20 million. The transaction is not completed but the property is under contract to sale. The sale is expected to be completed between March and April. It is reportedly being sold to a group of Korean investors who have partnered up with a local company . . .

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