Japan-based real estate investment trust, Invincible Investment Corporation (“INV”) has acquired ten hotels for a total consideration of JPY34.3 billion from six Japan-based sellers, affiliates of the US-based Sponsor, Fortress Investment Group LLC. The ten hotels acquired are 154-key Irago Ocean Resort for JPY6.9 billion, 188-key Kirishima Kokusai Hotel for JPY6.5 billion, 68-key Kamenoi Hotel Toba for JPY4.7 billion, 80-key Kamenoi Hotel Kusatsu Yubatake for JPY4.7 billion, 75-key Atagawa Ocean Resort for JPY4.2 billion, 180-key Hotel MyStays Atsugi for JPY3.2 billion, 61-key Kamenoi Hotel Tsukubasan for JPY3 billion, 52-key Kamenoi Hotel Kochi for JPY446 million, 45-key Kamenoi Hotel Chitamihama for JPY372 million and 40-key Kamenoi Hotel Yanagawa for JPY255 million. The ten properties are situated across Aichi, Kagoshima, Mie, Gunma, Shizuoka, Kanagawa, Ibaraki, Kochi, and Fukuoka, and are all operated by Japan-based hotel management company, Iconia Hospitality K.K. Following this…
