Keyword: Guangzhou R&F Properties
Sunac and Nova will use a $3.2-billion fund to acquire and redevelop hotels, office buildings and shopping centers in China.
JLL predicts China will see a boost in hotel transaction numbers as local investor interest rises.
With a high gearing ratio, the hotel group could be halting trade to pay off debt.
The updated arrangement lowers the total price to $9.22 billion and includes a new buyer of the hotels.
Guangzhou R&F Properties Chairman Zhang Li said that his firm has partnered with Cambodia's Royal Group for the hotels.