Nomura Real Estate Master (JP:3462) has released an update.
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Nomura Real Estate Master Fund, Inc. is set to acquire La’gent Stay Hakodate Ekimae/HAKOViVA, a hotel and retail asset in Japan, for 6.3 billion yen, aiming to ensure stable income and portfolio growth. The acquisition, scheduled for September 6, 2024, is driven by recovering tourism demand in Japan and the property’s strategic location in Hakodate City, a popular tourist destination with convenient access to key attractions. The Fund anticipates further growth in the sector due to Japan’s targeted increase in international visitors and Hakodate’s own tourism initiatives.
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