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Invincible Investment completes ¥12.4B Japanese hotel acquisitions

Invincible Investment Corp. completed the roughly ¥12.43 billion acquisition of four hotel properties from affiliates of Fortress Investment Group LLC.

The properties comprise the 165-room Hotel MyStays Yokohama Kannai in Yokohama, Kanagawa; the 198-room Art Hotel Joetsu in Joetsu, Niigata; the 134-room Art Hotel Hirosaki City in Hirosaki, Aomori; and the 145-room Hotel MyStays Oita in Oita, Oita.

The acquisitions were agreed earlier in February.

As of Feb. 6, US$1 was equivalent to ¥109.14.