AXA Investment Managers to purchase Hiroshima hotel for ¥4.6b

AXA Investment Managers – Real Assets has agreed to acquire a budget hotel to be completed in 2020 in Hiroshima, Japan, for ¥4.6 billion (U.S. $43 million).

The hotel has been acquired, on behalf of a client, from a joint venture between GreenOak Investment Management K.K. and Red Planet Japan Inc., who will operate the hotel as “Red Planet Hiroshima Nagarekawa,” on a long term-term lease running to 2040.

Red Planet Hiroshima hotel will comprise 160 bedrooms, 14 parking spaces and a restaurant.

The hotel will benefit from its strong location in the heart of Hiroshima and easy access to public transportation, with the Ebisu-Cho and Fukuro-machi tram stations all within walking distance. One of Hiroshima’s largest shopping districts is also within walking distance, as well as some of the city’s leading tourist destinations, including the Hiroshima Peace Memorial, one of the two world heritage sites in Hiroshima Prefecture. The Itsukushima Shrine, the ot