Insights and analysis on the Japan market.
BentallGreenOak is acquiring the landmark 1,000+ key Rihga Royal Hotel in central Osaka for close to US$400m. The hotel will undergo a major refurbishment and the new owner will partner with IHG for the rebranding of the property.
US-based Fortress Investment and Yodobashi Holdings are jointly acquiring the Sogo and Seibu Department store business in Japan in a US$1.4bn deal. The seller is the operator of 7-Eleven, Seven & i Holdings.
The real estate market in Niseko, Japan’s hottest ski destination, is poised for another surge in transactions on the back of pent up demand and the weak yen. Other markets including Hakuba and Furano are also expected to benefit.
Grosvenor's real estate investment platform in Japan will commence operations as Eaton Real Estate this month after being acquired by Kajima Corporation, one of Japan largest's construction and property investment companies. Eaton Real Estate will operate as an independent subsidiary of Kajima.
Gaw Capital is reported to be on the cusp of acquiring a US$540m logistics portfolio from Blackstone in Japan. The portfolio comprises seven assets located in the Greater Tokyo area. The portfolio is fully stabilised and it's likely that the equity for the acquisition is coming from Gaw Capital's core fund or a core separate account.