Japan-based MIRARTH Real Estate Investment Corporation (“MIRARTH REIT”) has announced plans for the acquisition of the Tosei Hotel & Seminar Makuhari in Chiba Prefecture, Japan, from Japan-based Tosei Corporation for JPY4.725 billion, or approximately JPY34.5 million per key. The 137-key hotel, built in 1992, spans approximately 8,769 square metres (“sqm”) across two buildings. The property will continue to be operated by Tosei Hotel Management Co. Ltd., a wholly owned subsidiary of the seller. Onsite facilities include a restaurant & café, a shop, laundromats, public bath, and hot tub. Notably, the hotel offers extensive MICE infrastructure, comprising 12 event spaces. Strategically located in the Makuhari area of Narashino City, one of Japan’s key MICE hubs, the property is approximately a 10-minute drive from the Makuhari Messe convention centre. It also benefits from strong transport connectivity, situated within a five-minute walk of the Shin-Narashino Station on JR’s Keiyo Line.
