Lone Star Funds has announced that an affiliate of Lone Star Real Estate Fund VII has completed the acquisition of a 175-room hotel in Yokohama, Japan, from Mapletree Investments Pte Ltd.
The hotel began operations in November 2020 as part of a 1.8 million-square-foot mixed-use redevelopment project led by Mitsui Fudosan Co. Ltd. It occupies the 46th to 51st floors of a condominium tower with more than 1,176 high-end residential units, offers direct access to a subway station, and is located on the waterfront of Minato Mirai, a secondary market in Yokohama.
Yokohama, Japan’s second-largest city with 3.8 million residents, has several strong demand drivers — including a new central business district focused on R&D, major exhibitions, conferences, incentive travel programs, and international conventions; a professional baseball stadium; concert arenas; and Japan’s largest Chinatown, which draws more than 20 million visitors annually.
The property is curr
