Brookfield Asset Management agreed to sell the Conrad hotel in Seoul to ARA Korea REF, a real estate fund, for US$415 million.  

The $925 billion alternative asset manager acquired the five-star hotel, which is part of the International Finance Center property portfolio in Seoul’s financial hub, in 2016, according to a statement Monday. Brookfield paid $300 million for the hotel at the time.

In April Brookfield and Investment Corp. of Dubai — a state-owned investment firm — announced the sale of a 49 per cent stake in Dubai’s iconic ICD Brookfield Place tower to a pair of Middle Eastern investors. Terms of the deal weren’t disclosed, but Bloomberg previously reported the tower could be worth as much as $1.5 billion. 

The Toronto-based firm also sold commercial assets in India at a combined value of $3.5 billion. 

Brookfield is targeting $15 billion for its fifth flagship real estate fund, and has collected more than $8 billion for its first close.