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Star Asia Investment completes ¥19.7B buy of 6 Japanese properties

Star Asia Investment Corp. completed the ¥19.67 billion acquisition of two office properties and four hotels.

The office assets are the Amusement Media Gakuin Honkan property in Tokyo, purchased for ¥2.58 billion, and the Higashi-Kobe Center Building in Hyogo, acquired for ¥7.44 billion.

As for the hotel assets, the Japanese real estate investment trust acquired Hotel WBF Fukuoka Tenjin Minami in Fukuoka for ¥1.97 billion, the Glansit Akihabara in Tokyo for ¥2.50 billion, the Best Western Tokyo Nishikasai Grande in Tokyo for ¥3.18 billion and Hotel WBF Art Stay Namba in Osaka for ¥2.00 billion.

As of Sept. 5, US$1 was equivalent to ¥111.54.