The deal involves a package of eight boutique hotels and resorts owned by MassMutual. : Chinese real estate tycoon Cai Kui’s family office is in advanced talks to buy a U.S. hotel portfolio from Massachusetts Mutual Life Insurance Company for as much as $800 million, a person with knowledge of the matter said. Hong Kong-based Junson Capital, which manages the wealth of the Longfor Properties Co. co-founder, plans to buy seven to eight hotels from MassMutual, according to the person.