XYMAX REIT Investment Corp. (JP:3488) has released an update.
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XYMAX REIT Investment Corporation has announced the acquisition and leasing of a 20% quasi-co-ownership interest in karaksa hotel Sapporo, aiming to grow its asset size and enhance portfolio stability and growth potential. The hotel is strategically located in a bustling shopping district in Sapporo, catering to the needs of group and family travelers, with the acquisition expected to contribute to long-term unitholder value. The deal, involving an acquisition price of 1.06 billion yen, was facilitated by the asset management capabilities of the company’s sponsor group and includes a variable rent-type lease agreement to optimize profitability and minimize revenue risks.
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