JHR is Acquiring Two Hotels Each in Okinawa and Tokyo for a Total of JPY 56.2 Billion

Japan-based Japan Hotel REIT Advisors Co., Ltd. (“JHR”), majority-owned by Singapore-based SC Capital Partners Pte. Ltd., announced its acquisition of four properties for a total of JPY 56.2 billion. These include two full-service properties in Okinawa and two in Shinjuku, Tokyo. The Okinawan properties are the 352-key Okinawa Harborview Hotel, featuring five on-site dining options and twelve meeting rooms with a capacity of up to 1,000 people, and the 448-key Southern Beach Hotel and Resort Okinawa, which offers three on-site dining options, two swimming pools, and seven meeting spaces for up to 520 people. These hotels were acquired for JPY 21.5 billion and JPY 16.2 billion, respectively. The Tokyo properties are the 75-key Mimaru Tokyo Shinjuku West and the 169-key Hotel Amanek Shinjuku-Kabukicho, acquired for JPY 9.7 billion and JPY 8.8 billion, respectively. The Okinawan transactions are expected to close on 31st July, while the Tokyo transactions will close on 12th July. The sellers of the properties are undisclosed. 

MRA Acquires the Randor Hotel Hiroshima Prestige in Hiroshima for JPY 2.58 Billion

Marubeni REIT Advisors Co., Ltd. (“MRA”), the asset management company for Japan-based United Urban Investment Corporation (“United Urban”), acquired the ten-storey, 43-key Randor Hotel Hiroshima Prestige in Hiroshima, Japan, from an undisclosed seller for JPY 2.58 billion in early June 2024. The property is located a 5-minute walk from Hiroshima Station and is close to several tourist spots, including Hiroshima Castle and the Hiroshima City Museum of Contemporary Art.

Ananda Sold Five Service Apartment Business Subsidiaries for THB 2.54 Billion

Thailand-based Ananda Development Public Company Limited (“Ananda”) announced the sale of ordinary shares in five service apartment subsidiaries: AMH Ratchada Co., Ltd., AMH Sukhumvit 8 Co., Ltd., AMH Sukhumvit 59 Co., Ltd., AMH Sathorn Co., Ltd., and AMH Pattaya Co., Ltd. to Thailand-based Mitsui Fudosan Asia Development (Thailand) Co., Ltd. (“MFADT”) for THB 2.54 billion. Ananda has partnered with MFADT on various co-living and serviced apartment projects in Bangkok, including the 445-key Somerset Rama 9, 196-key lyf Sukhumvit 8, 445-key Ascott Thonglor, and the 324-key Somerset Pattaya. 

TAP Secures SGD 5.33 Million from Apricot Capital in Funding Exercise for Planned Expansions

Singapore-based co-living operator The Assembly Place (“TAP”) raised SGD 5.33 million in a pre-Series A funding round anchored by Singapore-based Apricot Capital. TAP plans to use the funds to expand from 1,800 keys to over 5,000 keys by the end of 2025 through asset purchases and project development. This is TAP's second major fundraising effort since its founding in 2019. TAP also announced plans to launch lodging for health professionals at 1A Short Street, Rochor, Singapore, in July, as part of a joint venture with Singapore-based TS Group Pte Ltd. Two other sites, 36 & 38 Teck Whye Crescent and 107 Circuit Road, will be operational in Q1 2025. 

Tuan Sing Holdings Limited Announces Rebranding of Hyatt Regency Perth Hotel in Perth, Australia

Singapore-based Tuan Sing Holdings Limited (“TSHL”) announced that its wholly-owned subsidiary, HR Operations Pty Ltd (“HRO”), will re-position and rebrand its 366-key Hyatt Regency Perth. The rebranding process will begin on 31st August 2024. TSHL recently acquired the 72-key Fraser Residences River Promenade in Singapore for SGD 140.9 million. The hospitality portfolio will further expand with the completion of the Opus Bay project in Batam, Indonesia, a mixed-use development including a hospitality component.

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