The Osaka hotel is a brand-new hotel that is located in the heart of Osaka and can cater to both leisure and business travelers.
The Kyoto hotel was purchased at an approximately 15% discount to the seller’s original asking price. The seller, also the owner operator of the hotel was under financial distress after accepting an earlier bid which fell through having spent the deposit money and not having the funds to repay the purchase deposit.
We expect to sell this hotel to a J-REIT once the asset has stabilized.
