JAPAN-REIT: Hotel Sale

April 23, 2018
by Investment in Japan


>Ichigo Hotel REIT’s announcement

Ichigo Investment Advisors (“IIA”), the asset management company of Ichigo Hotel, decided today to sell Smile Hotel Asakusa.
The sale price of Smile Hotel Asakusa is 1.4X book value and 1.3X appraisal value, generating gains on sale of c. JPY 690 million in the January 2019 fiscal period.