A consortium of private equity real estate company SC Capital Partners, Goldman Sachs Asset Management and an Abu Dhabi Investment Authority (ADIA) subsidiary has acquired 27 hotels in Japan.
The hotels were acquired from Japanese home construction and real estate development corporation Daiwa House Industry in a deal valued at approximately $900m (Y125.4bn).
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SC Capital Partners noted that these properties are situated in major tourist destinations across the country and the consortium’s investment strategy will focus on rebranding initiatives, refurbishment works, improving the distribution channels and increasing the top-line revenue.
SC Capital Partners Group chairman and founder Suchad Chiaranussati said: “This is a rare opportunity to acquire one of the largest and most prominent hotel portfolios in Japan.
“The extensive platform and network we have built in Japan over the last 13 years, particularly in the hospitality space, puts us in a unique position to capitalise on the long-term relative value of this highly sought-after sector.
“We are also delighted to expand and deepen our relationship with ADIA, following the launch of a data centre investment programme last year and commence on a promising venture with Goldman Sachs, one of the leading financial institutions globally.”
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By GlobalDataThe company stated that hotel asset management and operations business Japan Hotel REIT Advisors Co will play an essential role in the recovery and further growth of the hotels, which include 7,124 rooms in total.
