According to real estate industry sources on August 25, Korean Teachers' Credit Union has decided to invest in mezzanine bonds issued with 152 Pillar Hotels & Resorts hotel portfolios as collateral.

 

The investment will be made through a private equity real estate fund managed by Hanwha Asset Management. The length of investment is up to five years, with about 10 percent in expected returns. Pillar Hotels & Resorts is a hotel management company with low- and mid-priced brands including Fairfield Inn & Suites, Residence Inn, Hampton Inn, and Courtyard.