Japan Hotel REIT Investment Corporation (TSE:8985) agreed to acquire Southern Beach Hotel & Resort OKINAWA for ¥16.2 billion on June 24, 2024. A cash consideration of ¥16.2 billion will be paid by Japan Hotel REIT Investment Corporation. As part of consideration, ¥16.2 billion is paid towards common equity of Southern Beach Hotel & Resort OKINAWA. The transaction will be financed through by using new loans worth ¥30 billion. funds to be procured through issuance of new investment units, together with cash on hand.

The expected completion of the transaction is July 31, 2024.