Japan Hotel Reit Investment (JP:8985) has released an update.
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Japan Hotel REIT Investment Corporation has announced the sale of its Washington Hotel Plaza Hakata in Nakasu for JPY 4,610 million, realizing a significant gain on the transaction. The decision to sell was influenced by the property’s limited potential for rent increases and the opportunity to enhance liquidity for future investments. Proceeds from the sale will be used to strengthen the company’s financial position and potentially fund new acquisitions or capital expenditures.
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