XYMAX REIT Investment Corp. (JP:3488) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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.
For further insights into JP:3488 stock, check out TipRanks’ Stock Analysis page.