MIRAI Corp. has agreed to acquire the Randor Hotel Kyoto Suites for ¥3.55 billion ($22.6 million), with the transaction scheduled to close Aug. 7. The seller was not disclosed.
The apartment-style hotel has 60 guestrooms designed to accommodate groups of four to seven guests, with kitchens, dining areas, bathrooms and laundry facilities. The six-story property opened in October 2019 and has a gross floor area of 3,729.65 square meters (40,149 square feet).
The hotel is fully occupied by Satisfill Inc. and operates under a lease structure combining fixed rent with a variable component linked to gross operating profit. MIRAI said the property has a projected net operating income (NOI) yield of 5.2 percent based on fixed rent.
The property was appraised at ¥4.91 billion ($31.3 million) as of July 31, representing an expected unrealized gain of ¥1.36 billion ($8.7 million), or
