Martin Sumichrast

Mitsui Trust and Bank Co. says a group of Japanese institutional investors is offering $40 million to become limited partners in four of Marriott Corp.’s newly built hotels in the United States. Once the deal is complete, the Japanese institutional investors, who were not otherwise identified, will own 95 per­cent of the hotels in Atlanta, Chicago, Costa Mesa, CA, and Phoenix, AZ, bank officials said. The Marriott Corp. will retain the other 5 percent. Mitsui Trust Bank, U.S.A, a Mitsui subsidiary, arranged the joint-ownership scheme.