XYMAX REIT Investment Corp. (JP:3488) has released an update.
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XYMAX REIT Investment Corp. has announced the strategic acquisition of a 20% co-ownership interest in karaksa hotel Sapporo, along with the sale of XYMAX Mita Building, as part of an asset replacement strategy aimed at improving distribution and expanding asset size. The sale is expected to realize unrealized gains and contribute to an increased distribution amount per unit by approximately 517 yen for the fiscal period ending February 2025. This move is intended to capitalize on the growing revenue from the hotel’s lodging, which targets inbound travelers, and includes preferential rights to negotiate for the remaining ownership interest.
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