SBI REIT Advisors Co., Ltd. (“SRA”), the asset manager for Japan-based NIPPON REIT Investment Corporation (“NIPPON REIT”), has announced the acquisition of five properties for an estimated total of JPY17.4 billion. The portfolio includes two hotels, two office buildings, and one urban industrial asset. The hotel assets, 132-key Hotel Resol Stay Akihabara and 190-key Smile Hotel Premium Hakodate Goryokaku, will be acquired from Japan-based The Sankei Building Co., Ltd. for JPY6.25 billion and JPY2.70 billion, respectively. This equates to approximately JPY47.3 million per key for the Tokyo hotel and JPY14.2 million per key for the Hokkaido hotel. Completed in 2021, Hotel Resol Stay Akihbara is a 13-storey property with a gross floor area of approximately 3,533 square metres (“sqm”). Situated in Chiyoda ward, Tokyo, the property is within 3-minute walk from both JR Akihabara Station (JR East Line) and Iwamotocho Station (Toei Shinjuku Line). The Smile Hotel Premium Hakodate Goryokaku wa…
