KB Securities Co., investment bank unit of South Korea’s KB Financial Group Inc., has acquired a full stake in Lotte Hotel Guam in the western Pacific Ocean, becoming the country’s first brokerage house to directly take over hotel ownership in U.S. territory.

According to multiple sources from the financial investment industry on Monday, KB Securities bought 100 percent shares in Lotte Hotel Guam last month from Norman Liao and Ronald Su, co-founders of Taiwan’s Tumon Bay Resort & Spa LLC. The purchase includes 28,000 square meters of land including exclusive beachfront, a main hotel building with 150 rooms, and an annex hotel with 72 rooms.

KB Securities bought the hotel property for $64.3 million, according to the U.S. Department of Land Management. For the purchase, the Korean company established JR6 Guam Propco Inc., a real estate investment trust (REIT), with $100 million capital last year.

The latest purchase is the first big deal achieved by KB Securities after Kim Sung-hyun, who served as vice president of investment banking at the company until last year, took the helm as chief executive last month.

Lotte Hotel Guam, meanwhile, is expected to re-open as a family hotel and resort after remodeling. The opening date is yet to be confirmed, KB Securities said.

By Han Woo-ram and Lee Eun-joo

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