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Mirai to pay ¥21.15B for 4 Japanese hotels, 1 industrial asset

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Mirai to pay ¥21.15B for 4 Japanese hotels, 1 industrial asset

Japanese real estate investment trust Mirai Corp. agreed to pay ¥21.15 billion to acquire four hotel assets and one industrial property in Japan.

The company will acquire the 11-story Smile Hotel Naha City Resort in Okinawa for ¥4.00 billion, the 118-room Smile Hotel Hakataeki-Mae in Fukuoka for ¥3.80 billion, the 141-room Smile Hotel Nagoya-Sakae in Aichi for ¥2.95 billion and the 96-room Hotel WBF Yodoyabashi-Minami in Osaka for ¥1.75 billion from undisclosed Japanese corporations.

Mirai noted that it will pay ¥8.65 billion to purchase the Rokko Island Distribution Center in Hyogo from specific-purpose company TMK Rokko Investment.

The company expects to close the acquisitions Nov. 1.

As of Oct. 15, US$1 was equivalent to ¥111.89.